Finance Act, 1990
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Basis of assessment: Schedule E. |
19.—As respects the year 1990-91 and subsequent years of assessment, Chapter I of Part V of the Income Tax Act, 1967 , is hereby amended— | |
(a) by the substitution of the following section for section 110: | ||
“110.—Tax under Schedule E shall be annually charged on every person having or exercising an office or employment of profit mentioned in that Schedule, or to whom any annuity, pension or stipend, chargeable under that Schedule, is payable, in respect of all salaries, fees, wages, perquisites or profits whatsoever therefrom and shall be computed on the amount of all such salaries, fees, wages, perquisites or profits whatsoever therefrom for the year of assessment.”, | ||
and | ||
(b) by the deletion of section 111: | ||
Provided that the deletion of the said section 111 shall not affect any enactment which contains reference to the said section or any part of it. |