Amendment of section 32AC

In force Act 25 of 2014 As on 06 Oct 2026

Act 25 of 2014 Ministry Finance Cited by 3 provisions

Section 11 of the Finance Act, 2014 deals with amendment of section 32AC. Amendment of section 32AC. 11. In section 32AC of the Income-tax Act, with effect from the 1st day of April, 2015,— (i) | after sub-section (1), the following sub-sections shall be inserted, namely:— "(1A) Where an assessee, being a company, engaged in the business of manufacture or production of an

Amendment of section 32AC.
11. In section 32AC of the Income-tax Act, with effect from the 1st day of April, 2015,—
(i) after sub-section (1), the following sub-sections shall be inserted, namely:—
"(1A) Where an assessee, being a company, engaged in the business of manufacture or production of any article or thing, acquires and installs new assets and the amount of actual cost of such new assets acquired and installed during any previous year exceeds twenty-five crore rupees, then, there shall be allowed a deduction of a sum equal to fifteen per cent of the actual cost of such new assets for the assessment year relevant to that previous year:
Provided that no deduction under this sub-section shall be allowed for the assessment year commencing on the 1st day of April, 2015 to the assessee, which is eligible to claim deduction under sub-section (1) for the said assessment year.
(1B) No deduction under sub-section (1A) shall be allowed for any assessment year commencing on or after the 1st day of April, 2018.";
(ii) in sub-section (2), after the words, brackets and figure "allowed under sub-section (1)", the words, brackets, figure and letter "or sub-section (1A)" shall be inserted.
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Section 11, The Finance Act, 2014 (Act 25 of 2014).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

Income-tax Act s. 32AC Investment in new plant or machinery

Referred to by 3

Questions about Section 11

What does Section 11 of the Finance Act deal with?

Section 11 of the Finance Act is headed "Amendment of section 32AC". Amendment of section 32AC. 11. In section 32AC of the Income-tax Act, with effect from the 1st day of April, 2015,— (i) | after sub-section (1), the following sub-sections shall be inserted, namely:— "(1A) Where an assessee, being a company, engaged in the business of manufacture or production of an

How do I find court cases under Section 11 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 2014 11, section 11 Finance Act 2014, section 11 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 11 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 32AC (Investment in new plant or machinery), so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it.

When was the Finance Act enacted?

Finance Act was enacted in 2014 as Act 25 of 2014. 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

First Schedule. THE FIRST SCHEDULE7973 words
2. Income-tax3522 words
114. Amendment of Act 32 of 19941078 words
3. Amendment of section 21041 words
Seventh Schedule. THE SEVENTH SCHEDULE908 words
76. Substitution of new section for section 285BA878 words

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(i)		after sub-section (1), the following sub-sections shall be inserted, namely:—
		"(1A) Where an assessee, being a company, engaged in the business of manufacture or production of any article or thing, acquires and installs new assets and the amount of actual cost of such new assets acquired and installed during any previous year exceeds twenty-five crore rupees, then, there shall be allowed a deduction of a sum equal to fifteen per cent of the actual cost of such new assets for the assessment year relevant to that previous year:
		Provided that no deduction under this sub-section shall be allowed for the assessment year commencing on the 1st day of April, 2015 to the assessee, which is eligible to claim deduction under sub-section (1) for the said assessment year.
		(1B) No deduction under sub-section (1A) shall be allowed for any assessment year commencing on or after the 1st day of April, 2018.";
(ii)		in sub-section (2), after the words, brackets and figure "allowed under sub-section (1)", the words, brackets, figure and letter "or sub-section (1A)" shall be inserted.