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Section40
The Finance Act, 1996

Amendment of section 115K

In force Act 33 of 1996 As on 18 Oct 2026

Act 33 of 1996 Ministry Finance Cited by 2 provisions

Section 40 of the Finance Act, 1996 deals with amendment of section 115K. Amendment of section 115K. 40. In section 115K of the Income-tax Act, with effect from the 1st day of April, 1997,— (a) for the words "forty-seven thousand rupees", wherever they occur, the words "forty-nine thousand three hundred and thirty rupees" shall be substituted;

Amendment of section 115K.

40. In section 115K of the Income-tax Act, with effect from the 1st day of April, 1997,—

(a) for the words "forty-seven thousand rupees", wherever they occur, the words "forty-nine thousand three hundred and thirty rupees" shall be substituted;

(b) for the words "six lakh rupees", at both the places where they occur, the words "seven lakh rupees" shall be substituted.

[Finance (No.

2) Act, 1996]

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Section 40, The Finance Act, 1996 (Act 33 of 1996).

Cross-references

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

Referred to by 2

  1. s. 42 Amendment of section 139
  2. 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 115K". Amendment of section 115K. 40. In section 115K of the Income-tax Act, with effect from the 1st day of April, 1997,— (a) for the words "forty-seven thousand rupees", wherever they occur, the words "forty-nine thousand three hundred and thirty rupees" shall be substituted;

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 1996 40, section 40 Finance Act 1996, 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?

2 other provisions in this corpus refer back to it.

When was the Finance Act enacted?

Finance Act was enacted in 1996 as Act 33 of 1996. 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.