TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Income-tax Act: Section 80L Revised for Clarity on Deductions from Firm or Association Assets.</h1> The Taxation Laws (Amendment) Act, 1984, modifies section 80L of the Income-tax Act, 1961. In sub-section (1), clause (c), the phrase 'consisting only of' is replaced with 'consisting, in either case, only of,' effective from April 1, 1972. A new sub-section (3) is added, effective from April 1, 1976, clarifying that no deduction under sub-section (1) is allowed for income derived from assets held by or on behalf of a firm, association, or body of individuals when computing the total income of any partner or member.
TaxTMI 
