Insertion of new section 115BBE
Section 47 of the Finance Act, 2012 deals with insertion of new section 115BBE. Insertion of new section 115BBE. 47. After section 115BBD of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2013, namely:— "115BBE.
Insertion of new section 115BBE.
47. After section 115BBD of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2013, namely:—
"115BBE. Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D.—(1) Where the total income of an assessee includes any income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D, the income-tax payable shall be the aggregate of—
(a) the amount of income-tax calculated on income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D, at the rate of thirty per cent; and
(b) the amount of income-tax with which the assessee would have been chargeable had his total income been reduced by the amount of income referred to in clause (a).
(2) Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or allowance shall be allowed to the assessee under any provision of this Act in computing his income referred to in clause (a) of sub-section (1).".
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Section 47, The Finance Act, 2012.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 47
What does Section 47 of the Finance Act deal with?
Section 47 of the Finance Act is headed "Insertion of new section 115BBE". Insertion of new section 115BBE. 47. After section 115BBD of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2013, namely:— "115BBE.
How do I find court cases under Section 47 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 47, section 47 Finance Act 2012, section 47 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 47 of the Finance Act, and has it changed?
Its own text turns on section 68 (Amendment of section 153B), section 69 (Amendment of section 153C), Income-tax Act 115BBD (Tax on certain dividends received from foreign companies), so none of them can safely be read on its own. 2 other provisions in this corpus refer 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.
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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.