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TypeBare Act JurisdictionCentral Government

Finance Act, 2001 Section 47

AMENDMENT OF SECTION 88 Insection 88 of the Income-tax Act-, with effect from the 1st day of April, 2002"

~1 min read
https://sooperkanoon.com/act/455370

Bare act section · Research

About this section

Finance Act, 2001 Section 47 is part of Finance Act, 2001 - AMENDMENT OF SECTION 88 Insection 88 of the Income-tax Act-, with effect from the 1st day of April, 2002". Read the section text below and explore Indian court judgments that cite it.

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Section Text

a) in sub-section (1), after the proviso, the following proviso shall be inserted, namely:" 'Provided further that an individual shall be entitled to a deduction of an amount equal to thirty per cent of the aggregate of the sums referred to in sub-section (2) if his income chargeable under the head "Salaries""

(a) does not exceed one lakh rupees during the previous year before allowing deduction undersection 16-; and (b) is not less than ninety per cent of his gross total income as defined in sub-section (5) of section 80B.';

(b) in sub-section (2), in clause (xiiia), after the words "Life Insurance Corporation", the words "or any other insurer" shall be inserted.

Frequently asked questions

What does Finance Act, 2001 Section 47 provide?

Section Section 47 of the Finance Act, 2001 (AMENDMENT OF SECTION 88 Insection 88 of the Income-tax Act-, with effect from the 1st day of April, 2002") is reproduced on this page as part of the Finance Act, 2001. 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, 2001 Section 47?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2001 Section 47. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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