Budget updates move fast, keep up with CAclubindia Pro. Subscribe today!

Notwithstanding

863 views 6 replies

Shivani

Learner

1881 Points Joined December 2012

Dear Friends

Quite often in Income Tax Act i come across following two expressions:

Nothwithstanding anything contained in section ...

Notwithstanding anything to the contrary contained in section ....

What does these two expressions mean and whats the difference between the two?

example will be helpful.

regards

shivani

Replies (6)

Guest

notwithstanding means it's a OVER RIDING CLAUSE... it will Kick all other provisions if there is contrary to it any other provision..... for example .. issue of shares at discount is VOID section 53
... but sweat equity shares can be issued for discount....

Guest

but section 54 start with notwithstanding 53... so 54 kick 53 provisions.. don't come in my way... notwithstanding is non obstante clause... it is greater than rest provisions

Guest

FOR YOUR query.. both are same.. but just different wording USED

ravi kumar

35 Points Joined October 2016

yes above are same <img src="https://www.neorai.com/vcm/ever.png" style="border-style:none; widtth:16px; height:16px;" /> <img src="https://www.neorai.com/indiaeco/ever.png" style="border-style:none; widtth:16px; height:16px;" />