Amendment of section 47
Section 29 of the Finance Act, 2001 deals with amendment of section 47. Amendment of section 47. 29. In section 47 of the Income-tax Act,— (a) in clause (iii), in the proviso, for the words "the Employees’ Stock Option Plan or Scheme", the words "any Employees’ Stock Option Plan or Scheme of the Company offered to such employees in accordance with the guidelines issued
Amendment of section 47.
29. In section 47 of the Income-tax Act,—
(a) in clause (iii), in the proviso, for the words "the Employees’ Stock Option Plan or Scheme", the words "any Employees’ Stock Option Plan or Scheme of the Company offered to such employees in accordance with the guidelines issued by the Central Government in this behalf" shall be substituted;
(b) in clause (viia), for the word "shares", the words "Global Depository Receipts" shall be substituted with effect from the 1st day of April, 2002.
(c) in clause (xiii), with effect from the 1st day of April, 2002,—
(i) for the portion beginning with the words "where a firm is succeeded" and ending with the words "intangible asset to the company", the following shall be substituted, namely :—
"any transfer of a capital asset or intangible asset by a firm to a company as a result of succession of the firm by a company in the business carried on by the firm, or any transfer of a capital asset to a company in the course of corporatisation of a recognised stock exchange in India as a result of which an association of persons or body of individuals is succeeded by such company:";
(ii) in the proviso,—
(A) in clause (a), after the words "liabilities of the firms" the words "or of the association of persons or body of individuals" shall be inserted;
(B) after clause (d), the following clause shall be inserted namely :—
"(e) the corporatisation of a recognised stock exchange in India is carried out in accordance with a scheme for corporatisation which is 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).".
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Section 29, 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 29
What does Section 29 of the Finance Act deal with?
Section 29 of the Finance Act is headed "Amendment of section 47". Amendment of section 47. 29. In section 47 of the Income-tax Act,— (a) in clause (iii), in the proviso, for the words "the Employees’ Stock Option Plan or Scheme", the words "any Employees’ Stock Option Plan or Scheme of the Company offered to such employees in accordance with the guidelines issued
How do I find court cases under Section 29 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 29, section 29 Finance Act 2001, section 29 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 29 of the Finance Act, and has it changed?
Its own text turns on section 47 (Amendment of section 88), Income-tax Act 47 (Transactions not regarded as transfer), 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.