Section 4 - Charge of expenditure-tax - Expenditure-tax Act, 1987

1 [Charge of expenditure-tax. 4. Subject to the provisions of this Act, there shall be charged on and from (a) the commencement of this Act 7 [ but not after the 31st day of May, 2003 ] , a tax at the rate of 3 [ ten ] per cent of the chargeable expenditure incurred in a hotel referred to in clause (1) of section 3 : Provided that nothing in this clause shall apply in the case of a hotel referred to in 5 [ clause (a) of sub-section (7) of section 80-IB ] of the Income-tax Act during the period beginning on the 1st day of April, 1991 and ending on the 31st day of March, 2001 : 4 [Provided further that nothing in this clause shall apply in the case of a hotel referred to in 6 [ clause (a) of sub-section (7) of section 80-IB ] of the Income-tax Act, 1961 (43 of 1961) during the period beginning on the 1st day of April, 1998 and ending on the 31st day of March, 2008; ] (b) the 1st day of October, 1991 2 [ but not after the 31st day of May, 1992 ] a tax at the rate of fifteen per cent of the chargeable expenditure incurred in a restaurant referred to in clause (2) of section 3. ] ************** NOTES:- 1. Substituted by the Finance (No. 2) Act, 1991, w.e.f. 1-10-1991 before it was read as, 4. Charge of expenditure-tax. Subject to the provisions of this Act, there shall be charged on and from the commencement of this Act, a tax at the rate of twenty per cent of the chargeable expenditure. 2. Inserted by the Finance Act, 1992, w.e.f. 1-6-1992 3. Substituted for twenty by the Finance Act, 1994, w.e.f. 1-6-1994 4. Inserted by the Finance Act, 1997, w.e.f. 1-4-1998 5. Substituted for clause ( ii ) of sub-section (5) of section 80-IA by the Finance Act, 1999, w.e.f. 1-4-2000 6. Substituted for clause ( iia ) of sub-section (5) of section 80-IA by the Finance Act, 1999, w.e.f. 1-4-2000 7. Inserted vide Section 103 of the Finance Act, 2003 w.e.f. 01-06-2003