Amendment of section 49
Section 20 of the Finance Act, 2010 deals with amendment of section 49. Amendment of section 49. 20. In section 49 of the Income-tax Act,— (a ) in sub-section (1), in clause (iii), in sub-clause (e), for the words, brackets, figures and letters "clause (vicb) of section ", the words, brackets, figures and letters "clause (vicb) or clause (xiiib) of section " shall be su
Amendment of section 49.
20. In section 49 of the Income-tax Act,—
(a ) in sub-section (1), in clause (iii), in sub-clause (e), for the words, brackets, figures and letters "clause (vicb) of section 47", the words, brackets, figures and letters "clause (vicb) or clause (xiiib) of section 47" shall be substituted with effect from the 1st day of April, 2011;
(b ) after sub-section (2AA), the following sub-section shall be inserted with effect from the 1st day of April, 2011, namely :—
"(2AAA) Where the capital asset being rights of a partner referred to in section 42 of the Limited Liability Partnership Act, 2008 (6 of 2009) became the property of the assessee on conversion as referred to in clause (xiiib) of section 47, the cost of acquisition of the asset shall be deemed to be the cost of acquisition to him of the share or shares in the company immediately before its conversion.";
(c ) in sub-section (4), after the word, brackets and figures "clause (vii)", at both the places where they occur, the words, brackets, figures and letter "or clause (viia)" shall be inserted with effect from the 1st day of June, 2010.
© Copyright. Taxmann Publications Pvt. Ltd.
Section 20, The Finance Act, 2010.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 20
What does Section 20 of the Finance Act deal with?
Section 20 of the Finance Act is headed "Amendment of section 49". Amendment of section 49. 20. In section 49 of the Income-tax Act,— (a ) in sub-section (1), in clause (iii), in sub-clause (e), for the words, brackets, figures and letters "clause (vicb) of section ", the words, brackets, figures and letters "clause (vicb) or clause (xiiib) of section " shall be su
How do I find court cases under Section 20 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 2010 20, section 20 Finance Act 2010, section 20 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 20 of the Finance Act, and has it changed?
Its own text turns on section 47 (Amendment of section 245D), section 49 (Amendment of section 260A), Income-tax Act 49 (Cost with reference to certain modes of acquisition), Limited Liability Partnership Act 42 (Partner's transferable interest), 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 2010. 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
- 102120000000010257. THE FIRST SCHEDULE6903 words
- 2. Income-tax2647 words
- 10. Amendment of section 35AD480 words
- 22. Amendment of section 72A450 words
- 21. Amendment of section 56411 words
- 18. Amendment of section 47379 words
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.