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Section45
The Finance Act, 2008

Substitution of new section for section 199

In force As on 07 Oct 2026

Ministry Finance

Section 45 of the Finance Act, 2008 deals with substitution of new section for section 199. Substitution of new section for section 199.

Substitution of new section for section 199.

45. For section 199 of the Income-tax Act, the following section shall be substituted, namely:—

"199. Credit for tax deducted.—(1) Any deduction made in accordance with the foregoing provisions of this Chapter and paid to the Central Government shall be treated as a payment of tax on behalf of the person from whose income the deduction was made, or of the owner of the security, or of the depositor or of the owner of property or of the unit-holder, or of the shareholder, as the case may be.

(2) Any sum referred to in sub-section (1A) of section 192 and paid to the Central Government shall be treated as the tax paid on behalf of the person in respect of whose income such payment of tax has been made.

(3) The Board may, for the purposes of giving credit in respect of tax deducted or tax paid in terms of the provisions of this Chapter, make such rules as may be necessary, including the rules for the purposes of giving credit to a person other than those referred to in sub-section (1) and sub-section (2) and also the assessment year for which such credit may be given.".

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Section 45, The Finance Act, 2008.

Cross-references

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

This section refers to

  1. Income-tax Act s. 199 Credit for tax deducted

Questions about Section 45

What does Section 45 of the Finance Act deal with?

Section 45 of the Finance Act is headed "Substitution of new section for section 199". Substitution of new section for section 199.

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 2008 45, section 45 Finance Act 2008, 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 199 (Credit for tax deducted), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 2008. 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

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.