Amendment of section 153
Section 45 of the Finance Act, 2005 deals with amendment of section 153. Amendment of section 153. 45. In section 153 of the Income-tax Act, with effect from the 1st day of April, 2006,— (a ) after sub-section (1), the following sub-sections shall be inserted, namely:— "(1A) No order of assessment shall be made under section 115WE or section 115WF at any time after the e The Act was enacted on 13 May 2005.
Amendment of section 153.
45. In section 153 of the Income-tax Act, with effect from the 1st day of April, 2006,—
(a ) after sub-section (1), the following sub-sections shall be inserted, namely:—
"(1A) No order of assessment shall be made under section 115WE or section 115WF at any time after the expiry of two years from the end of the assessment year in which the fringe benefits were first assessable.
(1B) No order of assessment or reassessment shall be made under section 115WG after the expiry of one year from the end of the financial year in which the notice under section 115WH was served.";
(b ) in sub-section (2A), for the words, brackets and figures "in sub-sections (1) and (2)", the words, brackets, figures and letters "in sub-sections (1), (1A), (1B) and (2)" shall be substituted;
(c ) in sub-section (3), for the words, brackets and figures "sub-sections (1) and (2)", the words, brackets, figures and letters "sub-sections (1), (1A), (1B) and (2)" shall be substituted;
(d) in the proviso to Explanation 1, for the words, brackets, figures and letter "in sub-sections (1), (2) and (2A)" the words, brackets, figures and letters "in sub-sections (1), (1A), (1B), (2) and (2A)" shall be substituted.
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Section 45, 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.
Questions about Section 45
What does Section 45 of the Finance Act deal with?
Section 45 of the Finance Act is headed "Amendment of section 153". Amendment of section 153. 45. In section 153 of the Income-tax Act, with effect from the 1st day of April, 2006,— (a ) after sub-section (1), the following sub-sections shall be inserted, namely:— "(1A) No order of assessment shall be made under section 115WE or section 115WF at any time after the e
How do I find court cases under Section 45 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 45, section 45 Finance Act 2005, section 45 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 45 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 153 (Time limit for completion of assessment, reassessment and recomputation), so none of them can safely be read on its own.
When was Section 45 of the Finance Act enacted?
Section 45 of the Finance Act, cited as Finance Act 2005 45, 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
- First Schedule. First Schedule6312 words
- 37. Insertion of new Chapter XII-H3647 words
- 21. Insertion of new section 80C2707 words
- 2. Income-tax2474 words
- 47. Amendment of section 153C350 words
- 19. Insertion of new section 72AA337 words
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