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Section30
The Finance Act, 1997

Amendment of section 88

In force As on 07 Oct 2026

Ministry Finance Cited by 2 provisions

Section 30 of the Finance Act, 1997 deals with amendment of section 88. Amendment of section 88. 30. In section 88 of the Income-tax Act, in sub-section (2), in clause (xvi), with effect from the 1st day of April, 1998,— (i) after the words "by a public company", the words "or as subscription to any eligible issue of capital by any public financial institution" shall be

Amendment of section 88.

30. In section 88 of the Income-tax Act, in sub-section (2), in clause (xvi), with effect from the 1st day of April, 1998,—

(i) after the words "by a public company", the words "or as subscription to any eligible issue of capital by any public financial institution" shall be inserted;

(ii) in the Explanation,—

(A) for clause (i), the following clause shall be substituted, namely :—

‘(i) "eligible issue of capital" means an issue made by a public company formed and registered in India or a public financial institution and the entire proceeds of the issue is utilised wholly and exclusively either for the purposes of developing, maintaining and operating an infrastructure facility or for generating, or for generating and distributing, power or for providing telecommunication services whether basic or cellular;’;

(B) after clause (iii), the following clause shall be inserted, namely :—

‘(iv) "public financial institution" shall have the meaning assigned to it in section 4A of the Companies Act, 1956 (1 of 1956).’.

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Section 30, The Finance Act, 1997.

Cross-references

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

Referred to by 2

  1. s. 14 Insertion of new section 44AF
  2. s. First Schedule First Schedule

Questions about Section 30

What does Section 30 of the Finance Act deal with?

Section 30 of the Finance Act is headed "Amendment of section 88". Amendment of section 88. 30. In section 88 of the Income-tax Act, in sub-section (2), in clause (xvi), with effect from the 1st day of April, 1998,— (i) after the words "by a public company", the words "or as subscription to any eligible issue of capital by any public financial institution" shall be

How do I find court cases under Section 30 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 1997 30, section 30 Finance Act 1997, section 30 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 30 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 1997. 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.