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FINANCE (NO.2) ACT, 1980
(1) This Act may be called the Finance (No. 2) Act, 1980.
(2) Save as otherwise provided in this Act, section 2 to 43 and section 52 and 53 shall be deemed to have come into force on the 1st day of April, 1980.
(1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 1980, income-tax shall be charged at the rates specified in Part I of the First Schedule and shall be increased, -
(a) in the cases to which Paragraph A, B, C and D of that Part apply, by a surcharge for purposes of the Union; and
(b) in the cases to which Paragraph E of that Part applies, by a surcharge, calculated in each case in the manner provided therein.
(2) In the cases to which Sub-Paragraph I or Sub-Paragraph II of Paragraph A of Part I of the First Schedule applies, where the assessee has, in the previous year, any net agricultural income, in addition to total income, and the total income exceeds ten thousand rupees, then, -
In section 2 of the Income-tax Act, in clause (24), after sub-clause (iv), the following sub-clause shall be inserted, namely :-
'(iva) the value of any benefit or perquisite, whether convertible into money or not, obtained by any representative assessee mentioned in clause (iii) or clause (iv) of sub-section (1) of section 160 or by any person on whose behalf or for whose benefit any income is receivable by the representative assessee (such person being hereafter in this sub-clause referred to as the "beneficiary") and any sum paid by the representative assessee in respect of any obligation which, but for such payment, would have been payable by the beneficiary;'.
In section 10 of the Income-tax Act, after clause (23A), the following clause shall be inserted and shall be deemed always to have been inserted, namely :-
"(23AA) any income received by any person on behalf of any Regimental Fund or Non-Public Fund established by the armed forces of the Union for the welfare of the past and present members of such forces or their dependants;".
In section 16 of the Income-tax Act, with effect from the 1st day of April, 1981, -
(a) in clause (i), -
(i) for the words "in respect of expenditure incidental to the employment of the assessee,", the words "a deduction of" shall be substituted;
(ii) in sub-clause (a) and (b), the words "derived from such employment" shall be omitted;
(b) in clause (ii), for the words "in respect of any allowance", the words "a deduction in respect of any allowance" shall be substituted.
In section 32 of the Income-tax Act, with effect from the 1st day of April, 1981, -
(a) in sub-section (1), after clause (ii), the following clause shall be inserted, namely :-
'(iia) in the case of any new machinery or plant (other than ships and aircraft) which has been installed after the 31st day of March, 1980, but before the 1st day of April, 1985, a further sum equal to one-half of the amount admissible under clause (ii) (exclusive of extra allowance for double or multiple shift working of the machinery or plant and the extra allowance in respect of machinery or plant installed in any premises used as a hotel) in respect of the previous year in which such machinery or plant is installed or, if the machinery or plant is first put to use in the immediately succeeding previous year, then, in respect of that previous year :
&
In section 35 of the Income-tax Act, -
(a) in sub-section (2), in clause (iv), -
(i) for the brackets and figures "(ii), (iii)", the brackets, figures and letter "(ii), (iia), (iii)" shall be substituted with effect from the 1st day of April, 1981;
(ii) for the words "for the same previous year", the words "for the same or any other previous year" shall be substituted and shall be deemed always to have been substituted;
(b) in sub-section (2A), with effect from the 1st day of September, 1980, -
(i) in the opening paragraph, after the words, brackets and figures "clause (ii) of sub-section (1)", the words "or to a public sector company" shall be inserted;
(ii) t
In section 35B of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 1981, -
(a) in clause (b), sub-clauses (ii), (iii), (v), (vi) and (viii) shall be omitted;
(b) for Explanation 2 below clause (b), the following Explanation shall be substituted, namely :-
"Explanation 2 : For the removal of doubts, it is hereby declared that nothing in clause (b) shall be construed to include any expenditure which is in the nature of purchasing and manufacturing expenses ordinarily debitable to the trading or manufacturing account and not to the profit and loss account.".
In section 36 of the Income-tax Act, in sub-section (1), after clause (ii), the following clause shall be inserted with effect from the 1st day of April, 1981, namely :-
'(iia) a sum equal to one an one-third times the amount of the expenditure incurred on payment of any salary to an employee who, as at the end of the previous year, -
(a) is totally blind, or
(b) is subject to or suffers from a permanent physical disability (other than blindness) which has the effect of reducing substantially his capacity to engage in a gainful employment or occupation :
Provided that the assessee produces before the Income-tax Officer, in respect of the first assessment year for which deduction is claimed in relation to each such employee under this clause, -
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In section 37 of the Income-tax Act, sub-sections (3A), (3B), (3C) and (3D) shall be omitted with effect from the 1st day of April, 1981.
In section 41 of the Income-tax Act, with effect from the 1st day of April, 1981, -
(a) in sub-section (2), after the proviso, the following proviso shall be inserted, namely :-
'Provided further that where an asset representing expenditure of a capital nature on scientific research within the meaning of clause (c) of sub-section (2B) of section 35, read with clause (4) of section 43 owned by the assessee which was or has been used for the purposes of business after it ceased to be used for the purpose of scientific research related to the business is sold, discarded, demolished or destroyed, the provisions of this sub-section shall apply as if for the words "actual cost", at the first place where they occur, the words "actual cost as increased by twenty-five per cent. thereof" had been substituted.';
&nb
In the Income-tax Act, -
(a) after section 80A, the following section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1968, namely :-
"80AA. Computation of deduction under section 80M. - Where any deduction is required to be allowed under section 80M in respect of any income by way of dividends from a domestic company which is included in the gross total income of the assessee, then, notwithstanding anything contained in that section, the deduction under that section shall be computed with reference to the income by way of such dividends as computed in accordance with the provisions of this Act (before making any deduction under this Chapter) and not with reference to the gross amount of such dividends.";
(b) after section 80AA as so inserted,
In section 80C of the Income-tax Act, with effect from the 1st day of April, 1981, -
(a) for sub-section (1), the following sub-section shall be substituted, namely :-
"(1) In computing the total income of an assessee, there shall be deducted, in accordance with and subject to the provisions of this section, an amount calculated, with reference to the aggregate of the sums specified in sub-section (2), at the following rates, namely :-
(a) where such aggregate does not exceed Rs. 5,000 The whole of such aggregate;
(b) where such aggregate exceeds Rs. 5,000 but does not exceed Rs. 10,000 Rs. 5,000 plus 50 per cent. of the amount by which such aggregate exceeds Rs. 5,000;
(c) where such aggregate exceeds R
Section 80FF of the Income-tax Act, shall be omitted with effect from the 1st day of April, 1981.
In section 80G of the Income-tax Act, -
(a) for sub-section (4), the following shall be substituted with effect from the 1st day of April, 1981, namely :-
"(4) where the aggregate of the sums referred to in sub-clauses (iv), (v), (vi) and (vii) of clause (a) and in clause (b) of sub-section (2) exceeds the smaller of the following amounts, that is to say, -
(i) ten per cent. of the gross total income (as reduced by any portion thereof on which income-tax is not payable under any provision of this Act and by any amount in respect of which the assessee is entitled to a deduction under any other provision of this Chapter), and
(ii) five hundred thousand rupees,
then, the amount by which such aggregate exceed
In the Income-tax Act, after section 80HHA, the following section shall be inserted with effect from the 1st day of April, 1981, namely :-
'80-I. Deduction in respect of profits and gains from industrial undertakings after a certain date, etc. -
(1) Where the gross total income of an assessee includes any profits and gains derived from an industrial undertaking or a ship or the business of a hotel, to which this section applies, there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction from such profits and gains of an amount equal to twenty per cent. thereof :
Provided that in the case of an assessee, being a company, the provisions of this sub-section shall have effect as if for the words "twenty per
In section 80J of the Income-tax Act, -
(a) in sub-section (1), for the words "computed in the prescribed manner", the words, brackets, figure and letter "computed in the manner specified in sub-section (1A)" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 1972;
(b) after sub-section (1), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1972, namely :-
'(1A) (I) For the purposes of this section, the capital employed in an industrial undertaking or the business of a hotel shall, except as otherwise expressly provided in this section, be computed in according with clauses (II) to (IV) and the capital employed in a ship shall be computed in accordance with clause (V
In section 80JJ of the Income-tax Act, with effect from the 1st day of April, 1981, -
(a) in clause (a), for the words "ten thousand rupees", the words "fifteen thousand rupees" shall be substituted;
(b) for clause (b), the following clause shall be substituted, namely :-
"(b) in any other case, one-fifth of the aggregate amount of such profits and gains or fifteen thousand rupees, whichever is higher :
Provided that in computing the aggregate amount of such profits and gains in a case where the profits and gains derived from a business of poultry farming exceed seventy-five thousand rupees, such excess shall be ignored.".
In section 80L of the Income-tax Act, in sub-section (1), for clause (vii), the following clause shall be substituted with effect from the 1st day of April, 1981, namely :-
"(vii) interest on deposits with a financial corporation which is engaged in providing long-term finance for industrial development in India or with a public company formed and registered in India with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in India for residential purposes :
Provided that the corporation or, as the case may be, the company is for the time being approved by the Central Government for the purposes of clause (viii) of sub-section (1) of section 36;".
In section 80RR of the Income-tax Act, for the words "musician or actor", the words and brackets "musician, actor or sportsman (including an athlete)" shall be substituted.
In section 80T of the Income-tax Act, in clause (a), the words "where the gross total income does not exceed ten thousand rupees or" shall be omitted with effect from the 1st day of April, 1981.
In section 80TT of the Income-tax Act, in clause (a), the words "where the gross total income does not exceed ten thousand rupees or" shall be omitted with effect from the 1st day of April, 1981.
In section 80U of the Income-tax Act, for the words "five thousand rupees", the words "ten thousand rupees" shall be substituted with effect from the 1st day of April, 1981.
In section 139 of the Income-tax Act, after sub-section (8), the following sub-section shall be inserted with effect from the 1st day of September, 1980, namely :-
"(9) Where the Income-tax Officer considers that the return of income furnished by the assessee is defective, he may intimate the defect to the assessee and give him an opportunity to rectify the defect within a period of fifteen days from the date of such intimation or within such further period which, on an application made in this behalf, the Income-tax Officer may, in his discretion, allow; and if the defect is not rectified within the said period of fifteen days or, as the case may be, the further period so allowed, then, notwithstanding anything contained in any other provision of this Act, the return shall be treated as an invalid return and the provisions of this Act shall apply as if the assessee had failed to f
In section 143 of the Income-tax Act, in sub-section (1), in clause (b), sub-clauses (ii) and (iii) shall be omitted.
In section 155 of the Income-tax Act, after sub-section (5A), the following sub-section shall be inserted with effect from the 1st day of April, 1981, namely :-
"(5B) Where any deduction in respect of any expenditure on scientific research has been made in any assessment year under sub-section (2B) of section 35 and the assessee fails to furnish a certificate of completion of the programme obtained from the prescribed authority within one year of the period allowed for its completion by such authority, the deduction originally made in excess of the expenditure actually incurred shall be deemed to have been wrongly made, and the Income-tax Officer may, notwithstanding anything contained in this Act, recompute the total income of the assessee for the relevant previous year and make the necessary amendment; and the provisions of section 154 shall, so far as may be apply thereto, the p
In section 164 of the Income-tax Act, -
(a) in sub-section (1), -
(i) for the portion beginning with the words "tax shall be charged -" and ending with the words "more beneficial to the revenue :", the following shall be substituted, namely :-
"tax shall be charged on the relevant income or part of relevant income at the maximum marginal rate :";
(ii) in the proviso, -
(1) for clause (i), the following clause shall be substituted, namely :-
"(i) none of the beneficiaries has any other income chargeable under this Act exceeding the maximum amount not chargeable to tax in the case of an association of persons or is a beneficiary under any other trust; or";
&nb
In section 171 of the Income-tax Act, after sub-section (8) and before the Explanation, the following sub-section shall be inserted, namely :-
"(9) Notwithstanding anything contained in the foregoing provisions of this section, where a partial partition has taken place after the 31st day of December, 1978, among the members of a Hindu undivided family hitherto assessed as undivided, -
(a) no claim that such partial partition has taken place shall be inquired into under sub-section (2) and no finding shall be recorded under sub-section (3) that such partial partition had taken place and any finding recorded under sub-section (3) to that effect whether before or after the 18th day of June, 1980, being the date of introduction of the Finance (No. 2) Bill, 1980, shall be null and void;
(b) such fa
In section 208 of the Income-tax Act, in sub-section (2), for clause (c), the following clause shall be substituted with effect from the 1st day of September, 1980, namely :-
"(c) in any other case - Rs. 12,000.".
30 Amendment Of Section 209a.
In section 209A of the Income-tax Act, in sub-section (4), after the proviso, the following proviso shall be inserted with effect from the 1st day of September, 1980, namely :-
'Provided further that in the case of an assessee, being a company, the provisions of this sub-section shall have effect as if for the figures and words "33-1/3 per cent.", the figures and words "20 per cent." had been substituted.'.
In section 209A of the Income-tax Act, in sub-section (4), after the proviso, the following proviso shall be inserted with effect from the 1st day of September, 1980, namely :-
'Provided further that in the case of an assessee, being a company, the provisions of this sub-section shall have effect as if for the figures and words "33-1/3 per cent.", the figures and words "20 per cent." had been substituted.'.
In section 212 of the Income-tax Act, in sub-section (3A), after the proviso, the following proviso shall be inserted with effect from the 1st day of September, 1980, namely :-
'Provided further that in the case of an assessee, being a company, the provisions of this sub-section shall have effect as if for the figures and words "33-1/3 per cent.", the figures and words "20 per cent." had been substituted.'.
In section 215 of the Income-tax Act, in sub-section (1), the following proviso shall be inserted with effect from the 1st day of September, 1980, namely :-
'Provided that in the case of an assessee, being a company, the provisions of this sub-section shall have effect as if for the words "seventy-five per cent.", the words "eighty-three and one-third per cent." had been substituted.'.
In section 273 of the Income-tax Act, with effect from the 1st day of September, 1980, -
(i) in sub-section (1), the following proviso shall be inserted, namely :-
'Provided that in the case of an assessee, being a company, the provisions of this sub-section shall have effect as if for the words "seventy-five per cent.", at both the places where they occur, the words "eighty-three and one-third per cent." had been substituted.';
(ii) in sub-section (2), before the Explanation, the following proviso shall be inserted, namely :-
'Provided that in the case of an assessee, being a company, the provisions of this sub-section shall have effect as if for the words "seventy-five per cent.", wherever they occur, the words "eighty-three and one-third per cent
In the Fourth Schedule to the Income-tax Act, in Part A, in clause (b) of rule 6, the words "exceeds one-third of the salary of the employee or" shall be omitted with effect from the 1st day of April, 1981.
The following amendments (being amendments of a consequential nature) shall be made in the Income-tax Act with effect from the 1st day of April, 1981, namely :-
(i) in sub-section (2) of section 34, in clause (ii), after the words, brackets and figures "or clause (ii)", the words, brackets, figures and letter "or clause (iia)" shall be inserted;
(ii) in sub-section (2) of section 38, for the brackets, figures and word "(ii) and (iii)", the brackets, figures, letter and word "(ii), (iia) and (iii)" shall be substituted;
(iii) in sub-section (3) of section 80A, after the words, figures and letters "or section 80HHA", the words, figures and letter "or section 80-I" shall be inserted;
(iv) in sub-section (9) of section 80HH, for the words, figures and l
In the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act), in section 2, in sub-clause (2) of clause (e), for the words "Provided that", the following shall be substituted with effect from the 1st day of April, 1981, namely :-
'Provided that in relation to the assessment year commencing on the 1st day of April, 1981, of any subsequent assessment year, this sub-clause shall have effect subject to the modification that for item (i) thereof, the following item shall be substituted, namely :-
"(i)(a) agricultural land other than land comprised in any tea, coffee, rubber or cardamom plantation;
(b) any building owned or occupied by a cultivator of, or receiver of rent or revenue out of, agricultural land other than land comprised in any tea, coffee, rubber or cardamom
In section 5 of the Wealth-tax Act, in sub-section (1), with effect from the 1st day of April, 1981, -
(a) for clause (iva), the following clause shall be substituted, namely :-
"(iva) agricultural land comprised in any tea, coffee, rubber or cardamom plantation belonging to the assessee;";
(b) in clause (ivb), for the words "agricultural land", the words "agricultural land comprised in any tea, coffee, rubber or cardamom plantation" shall be substituted;
(c) in clause (viiib), for the words "in an orchard or a plantation", the words "in any tea, coffee, rubber or cardamom plantation" shall be substituted;
(d) for clause (xxvii), the following clause shall be substituted, namely :-
&n
In section 7 of the Wealth-tax Act, in sub-section (1), the following Explanation shall be inserted, namely :-
"Explanation : For the removal of doubts, it is hereby declared that the price or other consideration for which any property may be acquired by or transferred to any person under the terms of a deed of trust or through or under any restrictive covenant in any instrument of transfer shall be ignored for the purpose of determining the price such property would fetch if sold in the open market on the valuation date.".
In the Wealth-tax Act, after section 20, the following section shall be inserted, namely :-
"20A. Assessment after partial partition of a Hindu undivided family. - Where a partial partition has taken place after the 31st day of December, 1978, among the members of a Hindu undivided family hitherto assessed as undivided, -
(a) such family shall continue to be liable to be assessed under this Act as if no such partial partition had taken place;
(b) each member or group of members of such family immediately before such partial partition and the family shall be jointly and severally liable for any tax, penalty, interest, fine or other sum payable under this Act by the family in respect of any period, whether before or after such partial partition;
(c) t
In section 21 of the Wealth-tax Act, -
(a) in sub-section (1), for the words "In the case of assets chargeable to tax under this Act", the words, brackets, figure and letter "Subject to the provisions of sub-section (1A), in the case of assets chargeable to tax under this Act" shall be substituted;
(b) after sub-section (1), the following sub-section shall be inserted, namely :-
"(1A) Where the value or aggregate value of the interest or interests of the person or persons on whose behalf or for whose benefit such assets are held falls short of the value of any such assets, then, in addition to the wealth-tax leviable recoverable under sub-section (1), the wealth-tax shall be levied upon and recovered from the court of wards, administrator-general, official trustee, receiver, manager or other p
In the Wealth-tax Act, in Part I of Schedule I, -
(a) in item (1), in the proviso, for the letters and figures "Rs. 1,00,000", at both the places where they occur, the letters and figures "Rs. 1,50,000" shall be substituted;
(b) in item (2), -
(i) in the opening portion, for the words, letters and figures "assessment year exceeds Rs. 1,00,000", the words, letters and figures "assessment year exceeds Rs. 1,50,000" shall be substituted;
(b) in item (2), -
(i) in the opening portion, for the words, letters and figures "assessment year exceeds Rs. 1,00,000", the words, letters and figures "assessment year exceeds Rs. 1,50,000" shall be substituted;
(ii) in the prov
GIFT-TAX
In the Gift-tax Act, 1958, -
(a) in section 2, in sub-clause (c) of clause (xxiv), after the words "power of appointment", the brackets and words "(whether general, special or subject to any restrictions as to the persons in whose favour the appointment may be made)" shall be inserted;
(b) in section 4, in sub-section (1), after clause (d), the following clause shall be inserted, namely :-
"(e) where a person who has an interest in property as a tenant for a term or for life or a remainderman surrenders or relinquishes his interest in the property or otherwise allows his interest to be terminated without consideration or for a consideration which is not adequate, the value of the interest so surrendered, relinquished or allowed to be termin
INTEREST-TAX
In the Income-tax Act, 1974, -
(1) in section 2, -
(a) in clause (7), -
(i) after sub-clause (i), the following sub-clause shall be inserted and shall be deemed always to have been inserted, namely :-
"(ia) interest referred to in sub-section (1B) of section 42 of the Reserve Bank of India Act, 1934 (2 of 1934);";
(ii) for sub-clause (iii), the following sub-clause shall be substituted with effect from the 1st day of September, 1980, namely :-
'(iii) interest on any term loan sanctioned before the 18th day of June, 1980, where the agreement under which such loan has been sanctioned provides for the repay
Where before the 18th day of June, 1980 [being the date on which the Finance (No. 2) Bill, 1980, was introduced] the Supreme Court has, on an appeal or a reference in respect of the assessment of an assessee for any particular assessment year, held that the deduction under section 80M is to be allowed in a manner different from that provided in section 80AA of the Income-tax Act, as inserted by section 12 of this Act, then, nothing contained in the said section 80AA shall apply to the assessment of such assessee for that particular assessment year.
The Customs Tariff Act, 1974 ( hereinafter referred to as the Customs Tariff Act ) , shall be amended in the manner specified in Parts I and II of the Second Schedule.
In the Central Excises and Salt Act, 1944 ( hereinafter referred to as the Central Excises Act ), -
( a ) in section 2, in clause ( f ), after sub-clause ( vii ), the following sub-clause shall be inserted, namely:-
"( viii ) in relation to aluminium, includes lacquering or printing or both of plain containers;";
( b ) the First Schedule shall be amended in the manner specified in Parts I and II of the Third Schedule.
In section 5 of the Finance Act, 1980, in sub-section ( 1 0, for the words "five per cent.", the words "ten per cent." shall be substituted
The Additional Duties of Excise ( Goods of Special Importance ) Act, 1957 ( hereinafter referred to as the Additional Duties of Excise Act ), shall be amended in the manner specified in the Fourth Schedule
In the Customs, Central Excises and Salt and Central Boards of Revenue ( Amendment ) Act, 1978, in new section 11B, as directed by section 21 of that Act to be inserted in the Central Excises Act,-
( a ) in sub-section ( 1 ), -
( i) for the words "from the date of payment of duty" occurring in the opening portion, the words "from the relevant date" shall be substituted;
( ii ) the Explanation shall be omitted;
( b ) for the Explanation at the end, the following Explanation shall be substituted, namely:-
'Explanation.- For the purposes of this section
( A ) "refund" includes rebate of duty of excise on excisable goods exported out of India or on excisable materi
( 1 ) The amendments directed in the Fifth Schedule, being amendments to provide for an Appellate Tribunal under the Customs Act, 1962, the Central Excises Act and the Gold ( Control ) Act, 1968( 45 of 1968 ) and for matters connected therewith shall be made in the said Acts.
( 2 ) The amendments directed to be made by sub-section ( 1 ) shall come into force on such date 11.10.1982 : Vide Notification No.G.S.R.597 ( E ) dated 11.10.82.Gazette of India, Exty.PT.II.Section 3 ( I ) as the Central Government may, by notification in the Official Gazette, appoint; and different dates may be appointed for the amendments to different Acts.
( 3 ) If any difficulty arises in giving effect to the provisions of any Act referred to in sub-section ( 1 ), as amended by the amendments thereto directed in the Fifth Schedule ( particularly in relation to
In the First Schedule to the Indian Post Office Act, 1898, -
(a) for the sub-heading "Letters" and the entries thereunder, the following shall be substituted, namely :-
"Letters
For a weight not exceeding ten grams 35 paise.
For every ten grams or fraction 15 paise.";
thereof, exceeding ten grams
(b) for the sub-heading "Parcels" and the entries thereunder, the following shall be substituted, namely :-
"Parcels
For a weight not exceeding five Rs. 2.00
hundred grams
For eve
In section 54 of the Finance (No. 2) Act, 1971, for the words "nine previous years", the words "fourteen previous years" shall be substituted.
In the Compulsory Deposit Scheme (Income-tax Payers) Act, 1974, -
(a) in section 2, after clause (d), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 10th day of July, 1978, namely :-
'(dd) "Income-tax Officer" has the same meaning as in clause (25) of section 2 of the Income-tax Act, and includes an Inspecting Assistant Commissioner who exercises or performs the powers or functions conferred on, or assigned to, him under section 125 or section 125A of the said Act;';
(b) after section 7, the following section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1975, namely :-
"7A. Compulsory deposit to be exempt for purposes of wealth-tax. - For
Section 2 of the Finance Act, 1980 (13 of 1980), is hereby repealed and shall be deemed never to have been enacted
THE FIRST SCHEDULE
(See section 2)
PART I
Income-Tax And Surcharge On Income-Tax
Paragraph A
Sub-Paragraph I
In the case of every individual or Hindu undivided family or unregistered firm or other association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act, not being a case to which Sub-Paragraph II of this Paragraph or any other Paragraph of this Part applies, -
RATES OF INCOME-TAX
(1) where the total income does not exceed Rs. 8,
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