CHAPTER VIA — DEDUCTIONS TO BE MADE IN COMPUTING TOTAL INCOME
Case Laws & Commentary
SECTION 80V — DEDUCTION FOR INTEREST ON MONEY BORROWED TO PAY TAX (OMITTED)
Omitted-Section Note (Income-tax Act, 1961 as amended by Finance Act, 2026)
STATUS — OMITTED PROVISION
Section 80V of the Income-tax Act, 1961 stands OMITTED and is not in force for any current assessment year. This note records the omission for completeness of the Chapter VIA series.
BARE-ACT ENTRY (verbatim, Income-tax Act, 1961 as amended by Finance Act, 2025)
80V. [Omitted by the Finance Act, 1994, w.e.f. 1-4-1995.]
A. HISTORICAL NOTE
Section 80V allowed a deduction in respect of interest paid on money borrowed for the payment of income-tax. It was omitted by the Finance Act, 1994 with effect from 1 April 1995.
B. CASE LAW
The provision stands omitted and confers no deduction for any current assessment year. No case law is digested. Decisions rendered under it survive only as historical authority and for reassessment of years in which it was in force.
Editorial note on sourcing
Bare-Act omission entry reproduced verbatim from the Income-tax Act, 1961 as amended by the Finance Act, 2025 (no Finance Act, 2026 change affects an already-omitted provision). Insertion/omission history stated from the bare-Act footnote. No case law is digested for an omitted provision; any historical authority is noted only for context.
Case Laws & Commentary
SECTION 80V — DEDUCTION FOR INTEREST ON MONEY BORROWED TO PAY TAX (OMITTED)
Omitted-Section Note (Income-tax Act, 1961 as amended by Finance Act, 2026)
STATUS — OMITTED PROVISION
Section 80V of the Income-tax Act, 1961 stands OMITTED and is not in force for any current assessment year. This note records the omission for completeness of the Chapter VIA series.
BARE-ACT ENTRY (verbatim, Income-tax Act, 1961 as amended by Finance Act, 2025)
80V. [Omitted by the Finance Act, 1994, w.e.f. 1-4-1995.]
A. HISTORICAL NOTE
Section 80V allowed a deduction in respect of interest paid on money borrowed for the payment of income-tax. It was omitted by the Finance Act, 1994 with effect from 1 April 1995.
B. CASE LAW
The provision stands omitted and confers no deduction for any current assessment year. No case law is digested. Decisions rendered under it survive only as historical authority and for reassessment of years in which it was in force.
Editorial note on sourcing
Bare-Act omission entry reproduced verbatim from the Income-tax Act, 1961 as amended by the Finance Act, 2025 (no Finance Act, 2026 change affects an already-omitted provision). Insertion/omission history stated from the bare-Act footnote. No case law is digested for an omitted provision; any historical authority is noted only for context.