Amendment of section 43
Section 9 of the Finance Act, 1986 deals with amendment of section 43. Amendment of section 43. 9. In section 43 of the Income-tax Act, in clause (1), after Explanation 7, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1974, namely:— "Explanation 8—For the removal of doubts, it is here by dec
Amendment of section 43.
9. In section 43 of the Income-tax Act, in clause (1), after Explanation 7, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1974, namely:—
"Explanation 8—For the removal of doubts, it is here by declared that where any amount is paid or is payable as interest in, connection with the acquisition of an asset, so much of such amount-as is relatable to any period after such asset is first put to use shall not be included, and shall be deemed never to have been included, in the actual cost of such asset.".
[Finance Act, 1986]
© Copyright. Taxmann Publications Pvt. Ltd.
Section 9, 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 9
What does Section 9 of the Finance Act deal with?
Section 9 of the Finance Act is headed "Amendment of section 43". Amendment of section 43. 9. In section 43 of the Income-tax Act, in clause (1), after Explanation 7, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1974, namely:— "Explanation 8—For the removal of doubts, it is here by dec
How do I find court cases under Section 9 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 9, section 9 Finance Act 1986, section 9 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 9 of the Finance Act, and has it changed?
Its own text turns on section 43 (Omission of section 6A), Income-tax Act 43 (Definitions of certain terms relevant to income from profits and gains of business or profession), 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.