Amendment of section 54E
Section 12 of the Finance Act, 1986 deals with amendment of section 54E. Amendment of section 54E. 12. In section 54E of the Income-tax Act, in sub-section (I), in Explanation 1, with effect from the 1st day of April,1987,— (a) in clause (c), after the words, figures and letters "after the 28th day of February, 1983'', the words, figures and letter's "but before the 1st
Amendment of section 54E.
12. In section 54E of the Income-tax Act, in sub-section (I), in Explanation 1, with effect from the 1st day of April,1987,—
(a) in clause (c), after the words, figures and letters "after the 28th day of February, 1983'', the words, figures and letter's "but before the 1st day of April, 1988" shall be inserted;
(b) after clause (c) as so amended, the following clause shall be inserted, namely: —
(d) in a case where the original asset is transferred after the 31st day of March, 1986, any of the assets specified in clause (c) and such bonds issued by any public sector company, as the Central Government may, by notification in the Official Gazette, specify in this behalf.
Explanation:—For the purposes of this clause, "public sector company" means any corporation established by or under any Central, State or Provincial Act or a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956).'
[Finance Act, 1986]
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Section 12, The Finance Act, 1986 (Act 23 of 1986).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 12
What does Section 12 of the Finance Act deal with?
Section 12 of the Finance Act is headed "Amendment of section 54E". Amendment of section 54E. 12. In section 54E of the Income-tax Act, in sub-section (I), in Explanation 1, with effect from the 1st day of April,1987,— (a) in clause (c), after the words, figures and letters "after the 28th day of February, 1983'', the words, figures and letter's "but before the 1st
How do I find court cases under Section 12 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 1986 12, section 12 Finance Act 1986, section 12 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 12 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 54E (Capital gain on transfer of capital assets not to be charged in certain cases), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 1986 as Act 23 of 1986. 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
- First Schedule. First Schedule6118 words
- 34. Insertion of new Chapter XXC4226 words
- 2. Income-tax1794 words
- 8. Insertion of new section 32AB1467 words
- 5. Amendment of section 2538 words
- 40. Amendment of Act 27 of 1957366 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.