# The Finance Act, 1985, Section 26: Amendment of section 115

- Act: The Finance Act, 1985 (Act 32 of 1985)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1985/section/26/

## Text

Amendment of section 115 26. In section 115 of the Income-tax Act, in clause (i), for sub-clause (a), the following sub-clause shall be substituted with effect from the 1st day of April, 1986, namely:— "(a) on so much of the amount of such long-term capital gains as relate to buildings or lands or any rights in buildings or lands, at the rate of fifty per cent. and". [Finance Act, 1985] © Copyright. Taxmann Publications Pvt. Ltd.

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