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Section34
The Finance Act, 2012

Amendment of section 92

In force As on 11 Oct 2026

Ministry Finance

Section 34 of the Finance Act, 2012 deals with amendment of section 92. Amendment of section 92. 34. In section 92 of the Income-tax Act, with effect from the 1st day of April, 2013,— (a) in sub-section (2), for the words "international transaction", the words "international transaction or specified domestic transaction" shall be substituted;

Amendment of section 92.

34. In section 92 of the Income-tax Act, with effect from the 1st day of April, 2013,—

(a) in sub-section (2), for the words "international transaction", the words "international transaction or specified domestic transaction" shall be substituted;

(b) after sub-section (2), the following sub-section shall be inserted, namely:—

"(2A) Any allowance for an expenditure or interest or allocation of any cost or expense or any income in relation to the specified domestic transaction shall be computed having regard to the arm's length price.";

(c) in sub-section (3),—

(i) for the words "international transaction", the words "international transaction or specified domestic transaction" shall be substituted;

(ii) for the word, brackets and figure "sub-section (1)", the words, brackets, figures and letter "sub-section (1) or sub-section (2A)" shall be substituted;

(iii) for the words "that sub-section", the words, brackets, figures and letter "sub-section (1) or sub-section (2A)" shall be substituted;

(iv) after the word, brackets and figure "sub-section (2)", the words, brackets, figure and letter "or sub-section (2A)" shall be inserted.

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Section 34, 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. s. 92 Amendment of section 245Q
  2. Income-tax Act s. 92 Computation of income from international transaction having regard to arm's length price

Questions about Section 34

What does Section 34 of the Finance Act deal with?

Section 34 of the Finance Act is headed "Amendment of section 92". Amendment of section 92. 34. In section 92 of the Income-tax Act, with effect from the 1st day of April, 2013,— (a) in sub-section (2), for the words "international transaction", the words "international transaction or specified domestic transaction" shall be substituted;

How do I find court cases under Section 34 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 34, section 34 Finance Act 2012, section 34 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 34 of the Finance Act, and has it changed?

Its own text turns on section 92 (Amendment of section 245Q), Income-tax Act 92 (Computation of income from international transaction having regard to arm's length price), so none of them can safely be read on its own.

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.