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TypeBare Act JurisdictionCentral Government

Finance Act, 2008 Section 5

Abolition of starting and savings rates and creation of starting rate for savings

~1 min read
https://sooperkanoon.com/act/455807

Bare act section · Research

About this section

Finance Act, 2008 Section 5 is part of Finance Act, 2008 - Abolition of starting and savings rates and creation of starting rate for savings. Read the section text below and explore Indian court judgments that cite it.

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Section Text

1) Section 6 of ITA 2007 (rates at which income tax is charged) is amended as follows.

(2) In subsection (1), omit paragraph (a).

(3) In subsection (2), omit "starting rate,".

(4) In subsection (3), for paragraph (a) substitute- "(a) section 7 (starting rate for savings),".

(5) Accordingly, in the heading omit "starting rate,".

(6) The amendments made by this section have effect for the tax year 2008-09 and subsequent tax years.

(7) Schedule 1 contains provision in connection with-

(a) the abolition of the starting rate and the savings rate, and (b) the creation of the starting rate for savings.

Frequently asked questions

What does Finance Act, 2008 Section 5 provide?

Section Section 5 of the Finance Act, 2008 (Abolition of starting and savings rates and creation of starting rate for savings) is reproduced on this page as part of the Finance Act, 2008. 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, 2008 Section 5?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2008 Section 5. 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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