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Section12
The Finance Act, 2012

Amendment of section 40A

In force As on 11 Oct 2026

Ministry Finance Cited by 1 provision

Section 12 of the Finance Act, 2012 deals with amendment of section 40A. Amendment of section 40A. 12. In section 40A of the Income-tax Act, in sub-section (2), with effect from the 1st day of April, 2013,— (i) in clause (a), the following proviso shall be inserted, namely:— "Provided that no disallowance, on account of any expenditure being excessive or unreasonable hav

Amendment of section 40A.

12. In section 40A of the Income-tax Act, in sub-section (2), with effect from the 1st day of April, 2013,—

(i) in clause (a), the following proviso shall be inserted, namely:—

"Provided that no disallowance, on account of any expenditure being excessive or unreasonable having regard to the fair market value, shall be made in respect of a specified domestic transaction referred to in section 92BA, if such transaction is at arm's length price as defined in clause (ii) of section 92F.";

(ii) in clause (b), in sub-clause (iv), after the words "or any relative of such director, partner or member", the words "or any other company carrying on business or profession in which the first mentioned company has substantial interest" shall be inserted.

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Section 12, The Finance Act, 2012.

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. 40A Expenses or payments not deductible in certain circumstances

Referred to by 1

  1. s. 6 Amendment of section 13

Questions about Section 12

What does Section 12 of the Finance Act deal with?

Section 12 of the Finance Act is headed "Amendment of section 40A". Amendment of section 40A. 12. In section 40A of the Income-tax Act, in sub-section (2), with effect from the 1st day of April, 2013,— (i) in clause (a), the following proviso shall be inserted, namely:— "Provided that no disallowance, on account of any expenditure being excessive or unreasonable hav

How do I find court cases under Section 12 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 2012 12, section 12 Finance Act 2012, section 12 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 12 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 40A (Expenses or payments not deductible in certain circumstances), 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 2012. 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.