Amendment of section 43
Section 26 of the Finance Act, 2001 deals with amendment of section 43. Amendment of section 43. 26. In section 43 of the Income-tax Act, with effect from the 1st day of April, 2002,— (a) in clause (1), after Explanation 11, the following Explanation shall be inserted, namely :— "Explanation 12.—Where any capital asset is acquired by the assessee under a scheme for corp
Amendment of section 43.
26. In section 43 of the Income-tax Act, with effect from the 1st day of April, 2002,—
(a) in clause (1), after Explanation 11, the following Explanation shall be inserted, namely :—
"Explanation 12.—Where any capital asset is acquired by the assessee under a scheme for corporatisation of a recognised stock exchange in India, approved by the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the actual cost of the asset shall be deemed to be the amount which would have been regarded as actual cost had there been no such corporatisation.";
(b) in clause (6), after Explanation 4, the following Explanation shall be inserted, namely :—
"Explanation 5.—Where in a previous year, any asset forming part of a block of assets is transferred by a recognised stock exchange in India to a company under a scheme for corporatisation approved by the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the written down value of the block of assets in the case of such company shall be the written down value of the transferred assets immediately before such transfer.".
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Section 26, The Finance Act, 2001.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 26
What does Section 26 of the Finance Act deal with?
Section 26 of the Finance Act is headed "Amendment of section 43". Amendment of section 43. 26. In section 43 of the Income-tax Act, with effect from the 1st day of April, 2002,— (a) in clause (1), after Explanation 11, the following Explanation shall be inserted, namely :— "Explanation 12.—Where any capital asset is acquired by the assessee under a scheme for corp
How do I find court cases under Section 26 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 2001 26, section 26 Finance Act 2001, section 26 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 26 of the Finance Act, and has it changed?
Its own text turns on section 3 (Amendment of section 2), section 43 (Amendment of section 80HHF), Income-tax Act 43 (Definitions of certain terms relevant to income from profits and gains of business or profession), Securities and Exchange Board of India Act 3 (Establishment and incorporation of Board), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2001. 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
- First Schedule. First Schedule5812 words
- 49. Substitution of new sections for section 922093 words
- 2. Income-tax1972 words
- 5. Amendment of section 101262 words
- 44. Amendment of section 80-IA857 words
- 52. Substitution of new section for section 115AC851 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.