Section 42

Provision relating to income-tax, super-tax, etc.

The Food Corporations Act, 1964

  • Act 37 of 1964
  • Ministry of Consumer Affairs, Food and Public Distribution
  • Department of Food and Public Distribution
About this Act

An Act to provide for the establishment of Food Corporations for the purpose of trading in foodgrains and other foodstuffs and for matters connected therewith and incidental thereto.

All sections
    For the purposes of the Income-tax Act, 1961 (43 of 1961), or any other enactment for the time being in force relating to income-tax, super-tax or any other tax on income, profits or gains, a Food Corporation shall be deemed to be a company within the meaning of the Income-tax Act, 1961, and shall be liable to tax accordingly on its income, profits and gains.

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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