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Section11
The Finance Act, 1965

Insertion of new section 112A

In force Act 15 of 1965 As on 15 Oct 2026

Act 15 of 1965 Ministry Finance Cited by 1 provision

Section 11 of the Finance Act, 1965 deals with insertion of new section 112A. Insertion of new section 112A. 11. After section 112 of the Income-tax Act, the following section shall be.

Insertion of new section 112A.

11. After section 112 of the Income-tax Act, the following section shall be. inserted, namely:—

Tax on interest on National Savings Certificates (First Issue)

"112A. Where the total income of an assessee, not being a company, includes any interest on National Savings Certificates (First Issue), the tax payable by him on his total income shall be-.

(a) the amount of income-tax payable on the total income as reduced by the amount of such inclusion and by the amount of compensation or other payment referred to in clause (ii) of section 28 and of the capital gains, if any, had the total income so reduced been his total income; plus

(b) the amount of income-tax calculated on the amount of such interest included in the total income at the average rate of income-tax which would have been applicable to the total income if the amount of such interest and the amount of compensation or other payment and of the capital gains aforesaid, if any, had not formed part of it ; plus

(c) income-tax on such compensation or other payment and on such capital gains, if any, computed in accordance with the provisions of clause (iii) of section 112 and of clause (b) of section 114, respectively.

Explanation.—For the purposes of clause (b), the average rate of income-tax shall be calculated as if the total income as reduced in the manner specified in the said clause consisted wholly of earned income as defined in the Finance Act of the relevant year.".

[Finance (No.

2) Act, 1965]

© Copyright. Taxmann Publications Pvt. Ltd.

Section 11, The Finance Act, 1965 (Act 15 of 1965).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. Income-tax Act s. 112 Tax on long-term capital gains

Referred to by 1

  1. s. 20 Amendment of Act 27 of 1957

Questions about Section 11

What does Section 11 of the Finance Act deal with?

Section 11 of the Finance Act is headed "Insertion of new section 112A". Insertion of new section 112A. 11. After section 112 of the Income-tax Act, the following section shall be.

How do I find court cases under Section 11 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1965 11, section 11 Finance Act 1965, section 11 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 11 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 112 (Tax on long-term capital gains), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was the Finance Act enacted?

Finance Act was enacted in 1965 as Act 15 of 1965. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.