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Section38
The Finance Act, 1990

Amendment of section 145

In force Act 12 of 1990 As on 13 Oct 2026

Act 12 of 1990 Ministry Finance Cited by 1 provision

Section 38 of the Finance Act, 1990 deals with amendment of section 145. Amendment of section 145 38. In section 145 of the Income-tax Act, in sub-section (1).

Amendment of section 145

38. In section 145 of the Income-tax Act, in sub-section (1). after the second proviso [as inserted by section 52 of the Direct Tax Laws .(Amendment) Act, 1987 (4 of 1988)], the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April. 1989, namely:—

"Provided also that nothing contained in this sub-section shall preclude an assessee from being charged to income-tax in respect of any interest on securities received by him in a previous year if such interest had not been charged to income-tax for any earlier previous year.".

[Finance Act, 1990]

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Section 38, The Finance Act, 1990 (Act 12 of 1990).

Cross-references

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

This section refers to

  1. s. 52 Amendment of section 5
  2. Income-tax Act s. 145 Method of accounting

Referred to by 1

  1. s. First Schedule First Schedule

Questions about Section 38

What does Section 38 of the Finance Act deal with?

Section 38 of the Finance Act is headed "Amendment of section 145". Amendment of section 145 38. In section 145 of the Income-tax Act, in sub-section (1).

How do I find court cases under Section 38 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 1990 38, section 38 Finance Act 1990, section 38 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 38 of the Finance Act, and has it changed?

Its own text turns on section 52 (Amendment of section 5), Income-tax Act 145 (Method of accounting), 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 1990 as Act 12 of 1990. 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.