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Section30
The Finance Act, 1985

Substitution of new section for section 167A

In force Act 32 of 1985 As on 19 Oct 2026

Act 32 of 1985 Ministry Finance Cited by 1 provision

Section 30 of the Finance Act, 1985 deals with substitution of new section for section 167A. Substitution of new section for section 167A.

Substitution of new section for section 167A.

30. In the Income-tax Act, for section 167A, the following section shall be substituted, namely:—

167A. Charge of tax where shares of members unknown.—Where the individual shares of the members of an association of person (other than a company or co-operative society) in the whole or any part of the income of such association are indeterminate or Unknown, tax shall be charged on the total income of the association at the maximum marginal rate.

Explanation.—For the purposes of this section,—

(a) "maximum marginal rate" shall have the meaning assigned to it in Explanation 2 below sub-section (3) of section 164;

(b) the individual shares of the members of an association of persons in the whole or any part of the income of such asso-ciation shall be deemed to be indeterminate or unknown if such shares; (in relation to the whole or any part of such income) are indeterminate or unknown on the date of formation of such association or at any time thereafter.'.

[Finance Act, 1985]

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Section 30, The Finance Act, 1985 (Act 32 of 1985).

Cross-references

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

Referred to by 1

  1. s. First Schedule First Schedule

Questions about Section 30

What does Section 30 of the Finance Act deal with?

Section 30 of the Finance Act is headed "Substitution of new section for section 167A". Substitution of new section for section 167A.

How do I find court cases under Section 30 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 1985 30, section 30 Finance Act 1985, section 30 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 30 of the Finance Act, and has it changed?

1 other provision in this corpus refers back to it.

When was the Finance Act enacted?

Finance Act was enacted in 1985 as Act 32 of 1985. 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.