Amendment of section 47
Section 16 of the Finance Act, 2007 deals with amendment of section 47. Amendment of section 47. 16. In section 47 of the Income-tax Act, after clause (vic), the following shall be inserted with effect from the 1st day of April, 2008, namely:— ‘(vica) any transfer in a business reorganisation, of a capital asset by the predecessor co-operative bank to the successor co-o
Amendment of section 47.
16. In section 47 of the Income-tax Act, after clause (vic), the following shall be inserted with effect from the 1st day of April, 2008, namely:—
‘(vica) any transfer in a business reorganisation, of a capital asset by the predecessor co-operative bank to the successor co-operative bank;
(vicb) any transfer by a shareholder, in a business reorganisation, of a capital asset being a share or shares held by him in the predecessor co-operative bank if the transfer is made in consideration of the allotment to him of any share or shares in the successor co-operative bank.
Explanation.—For the purposes of clauses (vica) and (vicb), the expressions "business reorganisation", "predecessor co-operative bank" and "successor co-operative bank" shall have the meanings respectively assigned to them in section 44DB;’.
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Section 16, The Finance Act, 2007.
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Questions about Section 16
What does Section 16 of the Finance Act deal with?
Section 16 of the Finance Act is headed "Amendment of section 47". Amendment of section 47. 16. In section 47 of the Income-tax Act, after clause (vic), the following shall be inserted with effect from the 1st day of April, 2008, namely:— ‘(vica) any transfer in a business reorganisation, of a capital asset by the predecessor co-operative bank to the successor co-o
How do I find court cases under Section 16 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 2007 16, section 16 Finance Act 2007, section 16 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 16 of the Finance Act, and has it changed?
Its own text turns on section 47 (Amendment of section 143), Income-tax Act 47 (Transactions not regarded as transfer), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When was the Finance Act enacted?
Finance Act was enacted in 2007. 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 Schedule7694 words
- 2. Income-tax3111 words
- 6. Amendment of section 101202 words
- 11. Amendment of section 171097 words
- 64. Amendment of section 245D1090 words
- 86. Amendment of section 22D1089 words
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