Amendment of section 47
Section 30 of the Finance Act, 2003 deals with amendment of section 47. Amendment of section 47. 30. In section 47 of the Income-tax Act, with effect from the 1st day of April, 2004,— (a ) in clause (xiii), for the word "corporatisation", wherever it occurs, the words "demutualisation or corporatisation" shall be substituted;
Amendment of section 47.
30. In section 47 of the Income-tax Act, with effect from the 1st day of April, 2004,—
(a ) in clause (xiii), for the word "corporatisation", wherever it occurs, the words "demutualisation or corporatisation" shall be substituted;
(b ) after clause (xiii), the following clause shall be inserted, namely:—
"(xiiia) any transfer of a capital asset being a membership right held by a member of a recognised stock exchange in India for acquisition of shares and trading or clearing rights acquired by such member in that recognised stock exchange in accordance with a scheme for demutualisation or 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);".
© Copyright. Taxmann Publications Pvt. Ltd.
Section 30, The Finance Act, 2003.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 30
What does Section 30 of the Finance Act deal with?
Section 30 of the Finance Act is headed "Amendment of section 47". Amendment of section 47. 30. In section 47 of the Income-tax Act, with effect from the 1st day of April, 2004,— (a ) in clause (xiii), for the word "corporatisation", wherever it occurs, the words "demutualisation or corporatisation" shall be substituted;
How do I find court cases under Section 30 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 2003 30, section 30 Finance Act 2003, section 30 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 30 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. 2 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 2003. 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 Schedule5940 words
- 2. Income-tax2243 words
- 6. Amendment of section 101472 words
- 40. Insertion of new section 80-IC1270 words
- 99. Insertion of Thirteenth and Fourteenth Schedules1215 words
- 65. Insertion of new sections 153A, 153B and 153C977 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.