Amendment of section 49
Section 23 of the Finance Act, 2009 deals with amendment of section 49. Amendment of section 49. 23. In section 49 of the Income-tax Act,— (a ) for sub-section (2AA), the following sub-section shall be substituted with effect from the 1st day of April, 2010, namely:— "(2AA) Where the capital gain arises from the transfer of specified security or sweat equity shares refe
Amendment of section 49.
23. In section 49 of the Income-tax Act,—
(a ) for sub-section (2AA), the following sub-section shall be substituted with effect from the 1st day of April, 2010, namely:—
"(2AA) Where the capital gain arises from the transfer of specified security or sweat equity shares referred to in sub-clause (vi) of clause (2) of section 17, the cost of acquisition of such security or shares shall be the fair market value which has been taken into account for the purposes of the said sub-clause.";
(b ) after sub-section (3), the following sub-section shall be inserted with effect from the 1st day of October, 2009, namely :—
"(4) Where the capital gain arises from the transfer of a property, the value of which has been subject to income-tax under clause (vii) of sub-section (2) of section 56, the cost of acquisition of such property shall be deemed to be the value which has been taken into account for the purposes of the said clause (vii).".
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Section 23, The Finance Act, 2009.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 23
What does Section 23 of the Finance Act deal with?
Section 23 of the Finance Act is headed "Amendment of section 49". Amendment of section 49. 23. In section 49 of the Income-tax Act,— (a ) for sub-section (2AA), the following sub-section shall be substituted with effect from the 1st day of April, 2010, namely:— "(2AA) Where the capital gain arises from the transfer of specified security or sweat equity shares refe
How do I find court cases under Section 23 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 2009 23, section 23 Finance Act 2009, section 23 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 23 of the Finance Act, and has it changed?
Its own text turns on section 17 (Amendment of section 43), section 49 (Insertion of new section 115WM), section 56 (Insertion of new section 144C), Income-tax Act 49 (Cost with reference to certain modes of acquisition), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2009. 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
- 102120000000010168. THE FIRST SCHEDULE7194 words
- 2. Income-tax2915 words
- 13. Insertion of new section 35AD1148 words
- 61. Substitution of new section for section 194C936 words
- 37. Amendment of section 80-IB761 words
- 56. Insertion of new section 144C751 words
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