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Section15
The Finance Act, 2005

Amendment of section 47

In force Act 18 of 2005 As on 07 Oct 2026

Act 18 of 2005 Ministry Finance Enacted 13 May 2005

Section 15 of the Finance Act, 2005 deals with amendment of section 47. Amendment of section 47. 15. In section 47 of the Income-tax Act, after clause (via) , the following clause shall be inserted, namely:— ‘(viaa) any transfer, in a scheme of amalgamation of a banking company with a banking institution sanctioned and brought into force by the Central Government under The Act was enacted on 13 May 2005.

Amendment of section 47.

15. In section 47 of the Income-tax Act, after clause (via) , the following clause shall be inserted, namely:—

‘(viaa) any transfer, in a scheme of amalgamation of a banking company with a banking institution sanctioned and brought into force by the Central Government under sub-section (7) of section 45 of the Banking Regulation Act, 1949 (10 of 1949), of a capital asset by the banking company to the banking institution.

Explanation.- For the purposes of this clause,—

(i) "banking company" shall have the same meaning assigned to it in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949);

(ii) "banking institution" shall have the same meaning assigned to it in sub-section (15) of section 45 of the Banking Regulation Act, 1949 (10 of 1949);’.

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Section 15, The Finance Act, 2005 (Act 18 of 2005).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. s. 47 Amendment of section 153C
  2. Income-tax Act s. 47 Transactions not regarded as transfer

Questions about Section 15

What does Section 15 of the Finance Act deal with?

Section 15 of the Finance Act is headed "Amendment of section 47". Amendment of section 47. 15. In section 47 of the Income-tax Act, after clause (via) , the following clause shall be inserted, namely:— ‘(viaa) any transfer, in a scheme of amalgamation of a banking company with a banking institution sanctioned and brought into force by the Central Government under

How do I find court cases under Section 15 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 2005 15, section 15 Finance Act 2005, section 15 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 15 of the Finance Act, and has it changed?

Its own text turns on section 47 (Amendment of section 153C), Income-tax Act 47 (Transactions not regarded as transfer), so none of them can safely be read on its own.

When was Section 15 of the Finance Act enacted?

Section 15 of the Finance Act, cited as Finance Act 2005 15, was enacted on 13 May 2005 as Act 18 of 2005. 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.