Amendment status not verified — confirm the current text below against the official source.
In the Bengal Agricultural Income-tax Act, 1944,— (1) section 7 shall be renumbered as sub-section (1) of that section, and— (a) in sub-section (1), as so renumbered, after clause (9), the following clause shall be inserted:— "(9a) any sum of allowance computed under sub- section (2);"; (b) after sub-section (1), the following sub-section shall be inserted:— "(2) Where an assessee has, out of his total agricul- tural income, utilized any amount during the previous year for the purposes as may be specified in such indus- trial development scheme as may be framed by the State Government and notified in this behalf, 162 The West Bengal Finance Act, 1994. XVI of 1994.] (Section 3.) the assessee shall be given an allowance of a sum equal to the amount, or the aggregate of the amounts so utilized, not exceeding twenty per centum of his such income, and such allowance shall be computed before the loss, if any, brought forward from the earlier year is set off under section 26: Provided that where such assessee is a firm, any association of persons or any body of individuals, such allowance shall not be considered in the computation of the income of any partner of such firm or any member of such association of persons or such body of individuals, as the case may be."; (2) for section 26A, the following section shall be substituted:— "Advance tax.