Insertion of new section 46A
Section 33 of the Finance Act, 1999 deals with insertion of new section 46A. Insertion of new section 46A. 33. After section 46 of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2000, namely :— ‘46A.
Insertion of new section 46A.
33. After section 46 of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2000, namely :—
‘46A. Capital gains on purchase by company of its own shares or other specified securities.—Where a shareholder or a holder of other specified securities receives any consideration from any company for purchase of its own shares or other specified securities held by such shareholder or holder of other specified securities, then, subject to the provisions of section 48, the difference between the cost of acquisition and the value of consideration received by the shareholder or the holder of other specified securities, as the case may be, shall be deemed to be the capital gains arising to such shareholder or the holder of other specified securities, as the case may be, in the year in which such shares or other specified securities were purchased by the company.
Explanation.—For the purposes of this section, "specified securities" shall have the meaning assigned to it in Explanation to section 77A of the Companies Act, 1956 (1 of 1956).’.
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Section 33, The Finance Act, 1999.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 33
What does Section 33 of the Finance Act deal with?
Section 33 of the Finance Act is headed "Insertion of new section 46A". Insertion of new section 46A. 33. After section 46 of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2000, namely :— ‘46A.
How do I find court cases under Section 33 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 1999 33, section 33 Finance Act 1999, section 33 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 33 of the Finance Act, and has it changed?
Its own text turns on section 48 (Amendment of section 80HHE), Income-tax Act 46 (Capital gains on distribution of assets by companies in liquidation), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 1999. 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
- 50. Substitution of new section for section 80-IA5311 words
- First Schedule. First Schedule5092 words
- 2. Income-tax1942 words
- 6. Amendment of section 101681 words
- 3. Amendment of section 21112 words
- 38. Substitution of new section for section 72A903 words
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.