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Section3
The Finance Act, 2000

Amendment of section 2

In force As on 11 Oct 2026

Ministry Finance Cited by 2 provisions

Section 3 of the Finance Act, 2000 deals with amendment of section 2. CHAPTER III DIRECT TAXES Income-tax Amendment of section 2.

CHAPTER III

DIRECT TAXES

Income-tax

Amendment of section 2.

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

(a) in clause (1A), the Explanation shall be numbered as Explanation 1 thereof, and after Explanation 1 as so numbered, the following Explanation shall be inserted with effect from the 1st day of April, 2001, namely:—

"Explanation 2.—For the removal of doubts, it is hereby declared that income derived from any building or land referred to in sub-clause (c) arising from the use of such building or land for any purpose (including letting for residential purpose or for the purpose of any business or profession) other than agriculture falling under sub-clause (a) or sub-clause (b) shall not be agricultural income;";

(b) in clause (19AA), in Explanation 4, for the words, brackets and figures "the conditions specified in sub-clauses (i) to (vii) of this clause, to the extent applicable", the words "such conditions as may be notified in the Official Gazette, by the Central Government" shall be substituted.

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Section 3, The Finance Act, 2000.

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

Referred to by 2

  1. s. 27 Insertion of new section 54EC
  2. s. 52 Insertion of new section 115JB

Questions about Section 3

What does Section 3 of the Finance Act deal with?

Section 3 of the Finance Act is headed "Amendment of section 2". CHAPTER III DIRECT TAXES Income-tax Amendment of section 2.

How do I find court cases under Section 3 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 2000 3, section 3 Finance Act 2000, section 3 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 3 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. 2 other provisions in this corpus refer back to it.

When was the Finance Act enacted?

Finance Act was enacted in 2000. 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.