Act Number: 37

Act Name: The Food Corporations Act, 1964

Year: 1964

Enactment Date: 1964-12-10

Long Title: 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.

Ministry: Ministry of Consumer Affairs, Food and Public Distribution

Department: Department of Food and Public Distribution

Section 42: Provision relating to income-tax, super-tax, etc.
    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.
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