Amendment of section 194A

In force Act 11 of 1987 As on 17 Oct 2026

Act 11 of 1987 Ministry Finance Cited by 1 provision

Section 47 of the Finance Act, 1987 deals with amendment of section 194A. Amendment of section 194A 47. In section 194A of the Income-tax Act, with effect from the 1st day of June, 1987— (a) in sub-section (1), after the proviso, the following Explanation shall be inserted, namely:— 'Explanation—For the purposes of this section, where any income by way of interest as afor

Amendment of section 194A
47. In section 194A of the Income-tax Act, with effect from the 1st day of June, 1987—
(a) in sub-section (1), after the proviso, the following Explanation shall be inserted, namely:—
'Explanation—For the purposes of this section, where any income by way of interest as aforesaid is credited to any account, whether called "Interest payable account" or "Suspense account" or by any other name, in the books of account of the person liable to pay such income, such crediting shall be deemed to be credit of such income to the account of the payee and the provisions of this section shall apply accordingly.';
(b) in sub-section (3), in clause (i), for the words "one thousand rupees", the words "two thousand five hundred rupees" shall be substituted.
[Finance Act, 1987]
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Section 47, The Finance Act, 1987 (Act 11 of 1987).

Cross-references

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

This section refers to

Income-tax Act s. 194A Interest other than "Interest on securities"

Referred to by 1

s. 14 Amendment of section 47

Questions about Section 47

What does Section 47 of the Finance Act deal with?

Section 47 of the Finance Act is headed "Amendment of section 194A". Amendment of section 194A 47. In section 194A of the Income-tax Act, with effect from the 1st day of June, 1987— (a) in sub-section (1), after the proviso, the following Explanation shall be inserted, namely:— 'Explanation—For the purposes of this section, where any income by way of interest as afor

How do I find court cases under Section 47 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 1987 47, section 47 Finance Act 1987, section 47 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 47 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 194A (Interest other than "Interest on securities"), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was the Finance Act enacted?

Finance Act was enacted in 1987 as Act 11 of 1987. 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 Schedule6061 words
2. Income-tax1675 words
32. Amendment of section 80C1059 words
24. Insertion of new section 54G901 words
59. Insertion of new sections 245BA to 245BD752 words
79. Insertion of new sections 22BA to 22BD748 words

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