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Section15
The Finance Act, 1968

Amendment of section 199

In force Act 19 of 1968 As on 16 Oct 2026

Act 19 of 1968 Ministry Finance Enacted 11 May 1968 Cited by 1 provision

Section 15 of the Finance Act, 1968 deals with amendment of section 199. Amendment of section 199 15. In section 199 of the Income-tax Act,— (a) after the words "in the assessment", the brackets, words, figures and letter "(including a provisional assessment under section 141A)" shall be inserted; The Act was enacted on 11 May 1968.

Amendment of section 199

15. In section 199 of the Income-tax Act,—

(a) after the words "in the assessment", the brackets, words, figures and letter "(including a provisional assessment under section 141A)" shall be inserted;

(b) for the existing provisos, the following provisos shall be, and shall be deemed always to have been, substituted, namely:—

"Provided that—

(i) in a case where such person or owner or shareholder is a person whose income is included under the provisions of section 60, section 61, section 64, section 93 or section 94 in the total income of another person, the payment shall be deemed to have been made on behalf of, and the credit shall be given to, such other person;

(ii) in any other case, where the dividend on any share is assessable as the income of a person other than the shareholder, the payment shall be deemed to have been made on behalf of, and the credit shall be given to, such other person in such circumstances as may be prescribed:

Provided further that where any security or share in a company is owned jointly by two or more persons not constituting a partnership, the payment shall be deemed to have been made on behalf of, and the credit shall be given to, each ouch person in the same proportion in which the interest on such security or dividend on such share is assessable as his income.",

[Finance Act, 1968]

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Section 15, The Finance Act, 1968 (Act 19 of 1968).

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. 199 Credit for tax deducted

Referred to by 1

  1. s. 32 Amendment of Act 27 of 1957

Questions about Section 15

What does Section 15 of the Finance Act deal with?

Section 15 of the Finance Act is headed "Amendment of section 199". Amendment of section 199 15. In section 199 of the Income-tax Act,— (a) after the words "in the assessment", the brackets, words, figures and letter "(including a provisional assessment under section 141A)" shall be inserted;

How do I find court cases under Section 15 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 1968 15, section 15 Finance Act 1968, section 15 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 15 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 199 (Credit for tax deducted), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was Section 15 of the Finance Act enacted?

Section 15 of the Finance Act, cited as Finance Act 1968 15, was enacted on 11 May 1968 as Act 19 of 1968. 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.