Title : Amendment of Section 10
State : Central
Year : 1970
In section 10 of the Income-tax Act, - (a) after clause (20), the following clause shall be, and shall be deemed always to have been, inserted, namely :- "(20A) any income of an authority constituted in India by or under any law enacted either for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages, or for both;"; (b) after clause (22), the following clause shall be inserted, namely :- "(22A) any income of a hospital or other institution for the reception and treatment of persons suffering from illness or mental defectiveness or for the reception and treatment of persons during convalescence or of persons requiring medical attention or rehabilitation, existing..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 16
State : Central
Year : 1970
In section 16 of the Income-tax Act, for clause (iv), the following clause shall be substituted with effect from the 1st day of April, 1971, namely :- "(iv) where the assessee is not in receipt of a conveyance allowance, whether as such or as part of his salary, in respect of expenditure on travelling for the purposes of his employment, a sum calculated in respect of each calendar month or part thereof comprised in the period of his employment during the previous year, on the basis provided hereunder, namely :- (a) where the assessee owns a motor car which is used for the purposes of his employment Rs. 200; (b) where the assessee owns a motor cycle, scooter or other moped which is used for the purposes of his employment Rs. 60; (c)..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 35b
State : Central
Year : 1970
In section 35B of the Income-tax Act, in sub-section (1), for sub-clause (iii) of clause (b), the following sub-clause shall be, and shall be deemed always to have been, substituted, namely :- "(iii) distribution, supply or provision outside India of such goods, services or facilities, not being expenditure incurred in India in connection therewith or expenditure (wherever incurred) on the carried of such goods to their destination outside India or on the insurance of such goods while in transit;". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 36
State : Central
Year : 1970
In section 36 of the Income-tax Act, in clause (viii) of sub-section (1), the following Explanation shall be deemed to have been inserted at the end with effect from the 1st day of April, 1966, namely :- "Explanation : For the removal of doubts, it is hereby declared that in the case of a financial corporation to which sub-clause (a) applies, if the amount carried to the reserve account referred to in this clause in the accounts of the previous year relevant to the assessment year commencing on the 1st day April, 1966, falls short of twenty-five per cent. of the total income and the amount transferred to such reserve account in the accounts of the immediately succeeding previous year exceeds the amount in respect of which the corporation is entitled to the deduction under this clause..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 80-c
State : Central
Year : 1970
In section 80-C of the Income-tax Act, - (a) In sub-section (2), after clause (f), the following clause shall be inserted with effect from the 1st day of April, 1971, namely : "(g) where the assessee is an association of persons or a body of individuals consisting only of husband and wife governed by the system of community of property in force in the Union territories of Dadra and Nagar Haveli and Goa, Daman and Diu - (i) any sums paid in the previous year by the assessee out of its income chargeable to tax - (1) to effect or to keep in force an insurance on the life of any member of such association or body or on the life of any child of any of the members of such association or body; or (2) to effect or to keep in force a contract for a deferred annuity on the life of any..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 80-g
State : Central
Year : 1970
In Section 80-G of the Income-tax Act, - (a) in clause (i) of sub-section (5), after the word, brackets and figures "clause (22)", the words, brackets, figures and letter "or clause (22-A)" shall be inserted; (b) for Explanation 2, following Explanation shall be substituted with effect from the 1st day of April, 1971, namely : "Explanation 2 : For the removal of doubts, it is hereby declared that a deduction to which the assessee is entitled in respect of any donation made to an institution or fund to which sub-section (5) applies shall not be denied merely on either or both of the following grounds, namely :- (i) that, subsequent to the donation, any part of the income of the institution or fund has become chargeable to tax due to non-compliance with any of the provisions of..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 80m
State : Central
Year : 1970
In section 80M of the Income-tax Act, for sub-section (2), the following sub-section shall be substituted with effect from the 1st day of April, 1971, namely :- "(2) Where a company to which this section applies is entitled also to the deduction in respect of income by way of dividends under section 80K or section 80L, the deduction under sub-section (1) shall be allowed in respect of income by way of dividends referred to therein as reduced by the aggregate of the deductions, if any, in respect of income by way of dividends under section 80K and section 80L. Explanation : For the purposes of this section, the deduction in respect of income by way of dividends under section 80L shall be taken to be so much of the amount of the deduction under that section as may be in excess of the..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 80mm
State : Central
Year : 1970
In section 80MM of the Income-tax Act, in sub-section (1), for the portion beginning with the words "under an agreement" and ending with the words "total income of the assessee", the following shall be substituted, namely :- "under an agreement entered into by the assessee with such person on or after the 1st day of April, 1969, and approved by the Central Government in this behalf, there shall be allowed a deduction from such income of an amount equal to forty per cent. thereof, in computing the total income of the assessee : Provided that the application for such approval is made to the Central Government before the 1st day of October of the relevant assessment year.". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 116
State : Central
Year : 1970
In section 116 of the Income-tax Act, for clause (c), the following clause shall be substituted, namely :- "(c) Commissioners of Income-tax and Additional Commissioners of Income-tax,". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 117
State : Central
Year : 1970
In section 117 of the Income-tax Act, in sub-section (1), after the words "Directors of Inspection, Commissioners of Income-tax,", the words "Additional Commissioners of Income-tax," shall be inserted. View Complete Act List Judgments citing this section