Insertion of Tenth Schedule

Q: When was Section 23 of the Finance Act enacted?

Section 23 of the Finance Act, cited as Finance Act 1975 23, was enacted on 09 May 1975 as Act 25 of 1975. It is in force as at the date shown on this page.

In force Act 25 of 1975 As on 09 Oct 2026

Act 25 of 1975 Ministry Finance Enacted 09 May 1975 Cited by 1 provision

Section 23 of the Finance Act, 1975 deals with insertion of Tenth Schedule. Insertion of Tenth Schedule 23. In the Income-tax Act, the following Schedule shall be inserted at the end with effect from the 1st day of April, 1976, namely: — "THE TENTH SCHEDULE [See section 40A (8)] List of institutions and bodies 1. The Act was enacted on 09 May 1975.

Insertion of Tenth Schedule
23. In the Income-tax Act, the following Schedule shall be inserted at the end with effect from the 1st day of April, 1976, namely: —
"THE TENTH SCHEDULE
[See section 40A (8)]
List of institutions and bodies
1. The Industrial Finance Corporation of India, established under the Industrial Finance Corporation Act, 1948 (15 of 1948).
2. Financial Corporations or Joint Financial Corporations, estab lished under the State Financial Corporations Act, 1951 (63 of 1951) and any institution deemed under section 46 of that Act to, be a Financial Corporation established by the State Government for the State within the meaning of that Act.
3. The Shipping Development Fund Committee, constituted under section 15 of the Merchant Shipping Act, 1958 (44 of 1958).
4. The Unit Trust of India, established under the Unit Trust of India Act, 1963 (52 of 1963).
5. The Industrial Development Bank of India, established under the Industrial Development Bank of India Act, 1964 (18 of 1964).
6. State Electricity Boards, constituted under the Electricity (Supply) Act, 1948 (54 of 1948).
7. The Life Insurance Corporation of India, established under the Life Insurance Corporation Act, 1956 (31 of 1956).
8. The Rehabilitation Industries Corporation of India Limited.
9. The State Trading Corporation of India Limited.
10. The Minerals and Metals Trading Corporation of India Limited.
11. The Rural Electrification Corporation Limited.
12. The Agricultural Finance Corporation Limited.
13. The Industrial Reconstruction Corporation of India Limited.
14. The Industrial Credit and Investment Corporation of India Limited.
15. The National Industrial Development Corporation of India Limited.
16. The State Industrial and Investment Corporation of Maharashtra Limited.".
[Finance Act, 1975]
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Section 23, The Finance Act, 1975 (Act 25 of 1975).

Cross-references

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

Referred to by 1

s. First Schedule First Schedule

Questions about Section 23

What does Section 23 of the Finance Act deal with?

Section 23 of the Finance Act is headed "Insertion of Tenth Schedule". Insertion of Tenth Schedule 23. In the Income-tax Act, the following Schedule shall be inserted at the end with effect from the 1st day of April, 1976, namely: — "THE TENTH SCHEDULE [See section 40A (8)] List of institutions and bodies 1.

How do I find court cases under Section 23 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 1975 23, section 23 Finance Act 1975, section 23 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 23 of the Finance Act, and has it changed?

1 other provision in this corpus refers back to it.

When was Section 23 of the Finance Act enacted?

Section 23 of the Finance Act, cited as Finance Act 1975 23, was enacted on 09 May 1975 as Act 25 of 1975. It is in force as at the date shown on this page.

Other sections of this Act

First Schedule. First Schedule5362 words
2. Income-tax1610 words
6. Amendment of section 40A1382 words
12. Amendment of section 80J1302 words
3. Amendment of section 10609 words
24. Consequential amendments to certain sections440 words

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.