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TypeBare Act JurisdictionCentral Government

Finance Act, 1992 Section 52

Insertion of New Section 88b

~1 min read
https://sooperkanoon.com/act/440783

Bare act section · Research

About this section

Finance Act, 1992 Section 52 is part of Finance Act, 1992 - Insertion of New Section 88b. Read the section text below and explore Indian court judgments that cite it.

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Section Text

After section 88A of the Income-tax Act, the following section shall be inserted, with effect from the 1st day of April, 1993, namely :-

'88B. Rebate of income-tax in case of individuals of sixty-five years and above. - An assessee, being an individual resident in India, who is of the age of sixty-five years or more at any time during the previous year and whose gross total income does not exceed fifty thousand rupees, shall be entitled to a deduction from the amount of income-tax (as computed before allowing the deductions under this Chapter) on his total income with which he is chargeable for any assessment year, of an amount equal to ten per cent. of such income-tax.

Explanation : For the purposes of this section, "gross total income" means the total income computed in accordance with the provisions of this Act, before making any deduction under Chapter VI-A.'.

Frequently asked questions

What does Finance Act, 1992 Section 52 provide?

Section Section 52 of the Finance Act, 1992 (Insertion of New Section 88b) is reproduced on this page as part of the Finance Act, 1992. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act, 1992 Section 52?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 1992 Section 52. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

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