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Section43
The Finance Act, 1990

Insertion of new section 271BB

In force Act 12 of 1990 As on 12 Oct 2026

Act 12 of 1990 Ministry Finance

Section 43 of the Finance Act, 1990 deals with insertion of new section 271BB. Insertion of new section 271BB 43. After section 271B of the Income-tax Act, the following section shall be inserted, namely: — "271BB.

Insertion of new section 271BB

43. After section 271B of the Income-tax Act, the following section shall be inserted, namely: —

"271BB. Failure to subscribe to the eligible issue of capital.—Whoever fails to subscribe any amount of subscription to the units issued under any scheme referred to in sub-section (1) of section 88A to the eligible issue of capital under that sub-section within the period of six months specified therein, may be directed by the Deputy Commissioner to pay, by way of penalty, a sum equal to twenty per cent. of such amount.".

[Finance Act, 1990]

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Section 43, 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. Income-tax Act s. 271B Failure to get accounts audited

Questions about Section 43

What does Section 43 of the Finance Act deal with?

Section 43 of the Finance Act is headed "Insertion of new section 271BB". Insertion of new section 271BB 43. After section 271B of the Income-tax Act, the following section shall be inserted, namely: — "271BB.

How do I find court cases under Section 43 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 43, section 43 Finance Act 1990, section 43 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 43 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 271B (Failure to get accounts audited), so none of them can safely be read on its own.

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.