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TypeBare Act JurisdictionCentral Government

Finance Act 1999 Section 31

Amendment of Section 44af

~1 min read
https://sooperkanoon.com/act/5498

Bare act section · Research

About this section

Finance Act 1999 Section 31 is part of Finance Act 1999 - Amendment of Section 44af. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 44AF of the Income-tax Act, after sub-section (4), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1998, namely :-

"(5) Notwithstanding anything contained in the foregoing provisions of this section, an assessee may claim lower profits and gains than the profits and gains specified in sub-section (1), if he keeps and maintains such books of account and other documents as required under sub-section (2) of section 44AA and gets his accounts audited and furnishes a report of such audit as required under section 44AB.".

Frequently asked questions

What does Finance Act 1999 Section 31 provide?

Section Section 31 of the Finance Act 1999 (Amendment of Section 44af) is reproduced on this page as part of the Finance Act 1999. 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 1999 Section 31?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act 1999 Section 31. 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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