Finance Act 1999 Section 43

Section Text

In section 80G of the Income-tax Act, with effect from the 1st day of April, 2000, -

(a) in sub-section (1), in clause (i), after the words, brackets, figures and letters "or sub-clause (iiihh)", the words, brackets, figures and letters "or sub-clause (iiihi)" shall be inserted;

(b) in sub-section (2), in clause (a), after sub-clause (iiihh), the following sub-clause shall be inserted, namely :-

"(iiihi) the Fund for Technology Development and Application set up by the Central Government; or";

"(5B) Notwithstanding anything contained in clause (ii) of sub-section (5) and Explanation 3, an institution or fund which incurs expenditure, during any previous year, which is of a religious nature for an amount not exceeding five per cent. of its total income in that previous year shall be deemed to be an institution or fund to which the provisions of this section apply.".

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What does Finance Act 1999 Section 43 provide?

Section Section 43 of the Finance Act 1999 (Amendment of Section 80g) 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.

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