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Section40
The Finance Act, 1991

Amendment of section 115A

In force Act 49 of 1991 As on 14 Oct 2026

Act 49 of 1991 Ministry Finance Cited by 1 provision

Section 40 of the Finance Act, 1991 deals with amendment of section 115A. Amendment of section 115A. 40. In section 115A of the Income-tax Act,— (a) in sub-section (1 A),— (i) after the words "an Indian concern", the words "or in respect of any computer software to a person resident in India" shall be inserted;

Amendment of section 115A.

40. In section 115A of the Income-tax Act,—

(a) in sub-section (1 A),—

(i) after the words "an Indian concern", the words "or in respect of any computer software to a person resident in India" shall be inserted;

(ii) after the proviso, the following proviso shall be inserted, namely:—.

"Provided further that such computer software is permitted according to the Import Trade Control Policy of the Government of India for the time being in force to be imported into India under an Open General Licence.";

(iii) the existing Explanation shall be renumbered as Explanation 1 and after Explanation 1 as so renumbered, the following Explanation shall be inserted, namely:—

'Explanation 2.—In this sub-section, the expression "computer software" shall have the meaning assigned to it in clause (b) of the Explanation to section 80HHE.';

(b) in sub-section (2), for the words "purposes of the proviso", the words "purposes of the first proviso" shall be substituted.

[Finance (No.

2) Act, 1991]

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Section 40, The Finance Act, 1991 (Act 49 of 1991).

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. 115A Tax on dividends, royalty and technical service fees in the case of foreign companies

Referred to by 1

  1. s. First Schedule First Schedule

Questions about Section 40

What does Section 40 of the Finance Act deal with?

Section 40 of the Finance Act is headed "Amendment of section 115A". Amendment of section 115A. 40. In section 115A of the Income-tax Act,— (a) in sub-section (1 A),— (i) after the words "an Indian concern", the words "or in respect of any computer software to a person resident in India" shall be inserted;

How do I find court cases under Section 40 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 1991 40, section 40 Finance Act 1991, section 40 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 40 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 115A (Tax on dividends, royalty and technical service fees in the case of foreign companies), 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 1991 as Act 49 of 1991. 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.