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Section4
The Finance Act, 1998

Amendment of section 2

In force As on 18 Oct 2026

Ministry Finance

Section 4 of the Finance Act, 1998 deals with amendment of section 2. Amendment of section 2. 4. In section 2 of the Income-tax Act,— (a ) in clause (7A) with effect from the 1st day of October, 1998,— (i) for the words "Assistant Commissioner or Assistant Director", the words "Assistant Commissioner or Deputy Commis­sioner or Assistant Director or Deputy Director" sh

Amendment of section 2.

4. In section 2 of the Income-tax Act,—

(a ) in clause (7A) with effect from the 1st day of October, 1998,—

(i) for the words "Assistant Commissioner or Assistant Director", the words "Assistant Commissioner or Deputy Commis­sioner or Assistant Director or Deputy Director" shall be substi­tuted;

(ii) for the words "Deputy Commissioner or Deputy Director", the words "Joint Commissioner or Joint Director" shall be substi­tuted;

(b ) in clause (9A), after the words "an Assistant Commis­sioner of Income-tax", the words "or a Deputy Commissioner of Income-tax" shall be inserted with effect from the 1st day of October, 1998;

(c ) for clause (11), the following clause shall be substi­tuted with effect from the 1st day of April, 1999, namely :—

‘( 11) "block of assets" means a group of assets falling within a class of assets comprising—

(a) tangible assets, being buildings, machinery, plant or furnitures;

(b) intangible assets, being know-how, patents, copyrights, trade-marks, licences, franchises or any other business or com­mercial rights of similar nature,

in respect of which the same percentage of depreciation is pre­scribed;’;

(d ) in clause (19A), the words "or an Additional Commissioner of Income-tax" shall be omitted with effect from the 1st day of October, 1998;

(e ) in clause (19C), the words "or an Additional Director of Income-tax" shall be omitted with effect from the 1st day of October, 1998;

(f ) after clause (28B), the following clauses shall be inserted with effect from the 1st day of October, 1998, namely :—

‘(28C) "Joint Commissioner" means a person appointed to be a joint Commissioner of Income-tax or an Additional Commissioner of Income-tax under sub-section (1) of section 117;

(28D) "Joint Director" means a person appointed to be a Joint Director of Income-tax or an Additional Director of Income-tax under sub-section (1) of section 117;’;

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Section 4, The Finance Act, 1998.

Cross-references

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

This section refers to

  1. s. 2 Income-tax
  2. Income-tax Act s. 2 Definitions

Questions about Section 4

What does Section 4 of the Finance Act deal with?

Section 4 of the Finance Act is headed "Amendment of section 2". Amendment of section 2. 4. In section 2 of the Income-tax Act,— (a ) in clause (7A) with effect from the 1st day of October, 1998,— (i) for the words "Assistant Commissioner or Assistant Director", the words "Assistant Commissioner or Deputy Commis­sioner or Assistant Director or Deputy Director" sh

How do I find court cases under Section 4 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 1998 4, section 4 Finance Act 1998, section 4 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 4 of the Finance Act, and has it changed?

Its own text turns on section 2 (Income-tax), Income-tax Act 2 (Definitions), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 1998. 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.