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TypeBare Act JurisdictionCentral Government

Finance Act, 1984 Section 20

Amendment of Section 161

~1 min read
https://sooperkanoon.com/act/46122

Bare act section · Research

About this section

Finance Act, 1984 Section 20 is part of Finance Act, 1984 - Amendment of Section 161. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 161 of the Income-tax Act, after sub-section (1), the following sub-section shall be inserted with effect from the 1st day of April, 1985, namely :-

'(1A) Notwithstanding anything contained in sub-section (1), where any income in respect of which the person mentioned in clause (iv) of sub-section (1) of section 160 is liable as representative assessee consists of, or includes, profits and gains of business, tax shall be charged on the whole of the income in respect of which such person is so liable at the maximum marginal rate :

Provided that the provisions of this sub-section shall not apply where such profits and gains are receivable under a trust declared by any person by will exclusively for the benefit of any relative dependent on him for support and maintenance, and such trust is the only trust so declared by him.

Explanation : For the purposes of this sub-section, "maximum marginal rate" shall have the meaning assigned to it in Explanation 2 below sub-section (3) of section 164.'.

Frequently asked questions

What does Finance Act, 1984 Section 20 provide?

Section Section 20 of the Finance Act, 1984 (Amendment of Section 161) is reproduced on this page as part of the Finance Act, 1984. 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, 1984 Section 20?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 1984 Section 20. 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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