Amendment of section 49
Section 17 of the Finance Act, 2007 deals with amendment of section 49. Amendment of section 49. 17. In section 49 of the Income-tax Act, with effect from the 1st day of April, 2008,— (i ) in sub-section (1), in clause (iii), in sub-clause (e), for the word, brackets, figures and letters "clause (viaa)", the words, brackets, figures and letters "clause (viaa) or clause
Amendment of section 49.
17. In section 49 of the Income-tax Act, with effect from the 1st day of April, 2008,—
(i ) in sub-section (1), in clause (iii), in sub-clause (e), for the word, brackets, figures and letters "clause (viaa)", the words, brackets, figures and letters "clause (viaa) or clause (vica) or clause (vicb)" shall be substituted;
(ii ) after sub-section (2AA), the following sub-section shall be inserted, namely:—
"(2AB) Where the capital gain arises from the transfer of specified security or sweat equity shares, the cost of acquisition of such security or shares shall be the fair market value which has been taken into account while computing the value of fringe benefits under clause (ba) of sub-section (1) of section 115WC.";
(iii ) after sub-section (2D) and before the Explanation, the following sub-section shall be inserted, namely:—
"(2E) The provisions of sub-section (2), sub-section (2C) and sub-section (2D) shall, as far as may be, also apply in relation to business reorganization of a co-operative bank as referred to in section 44DB.".
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Section 17, The Finance Act, 2007.
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Referred to by 2
Questions about Section 17
What does Section 17 of the Finance Act deal with?
Section 17 of the Finance Act is headed "Amendment of section 49". Amendment of section 49. 17. In section 49 of the Income-tax Act, with effect from the 1st day of April, 2008,— (i ) in sub-section (1), in clause (iii), in sub-clause (e), for the word, brackets, figures and letters "clause (viaa)", the words, brackets, figures and letters "clause (viaa) or clause
How do I find court cases under Section 17 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 17, section 17 Finance Act 2007, section 17 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 17 of the Finance Act, and has it changed?
Its own text turns on section 49 (Amendment of section 153B), Income-tax Act 49 (Cost with reference to certain modes of acquisition), 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 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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