Amendment of section 47

In force Act 25 of 2014 As on 07 Oct 2026

Act 25 of 2014 Ministry Finance

Section 18 of the Finance Act, 2014 deals with amendment of section 47. Amendment of section 47. 18. In section 47 of the Income-tax Act, with effect from the 1st day of April, 2015,— (a) | after clause (viia), the following shall be inserted, namely:— '(viib) | any transfer of a capital asset, being a Government Security carrying a periodic payment of interest, made ou

Amendment of section 47.
18. In section 47 of the Income-tax Act, with effect from the 1st day of April, 2015,—
(a) after clause (viia), the following shall be inserted, namely:—
'(viib) any transfer of a capital asset, being a Government Security carrying a periodic payment of interest, made outside India through an intermediary dealing in settlement of securities, by a non-resident to another non-resident.
Explanation.—For the purposes of this clause, "Government Security" shall have the meaning assigned to it in clause (b) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);';
(b) after clause (xvi), the following shall be inserted, namely:—
'(xvii) any transfer of a capital asset, being share of a special purpose vehicle to a business trust in exchange of units allotted by that trust to the transferor.
Explanation.—For the purposes of this clause, the expression "special purpose vehicle" shall have the meaning assigned to it in the Explanation to clause (23FC) of section 10.'.
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Section 18, The Finance Act, 2014 (Act 25 of 2014).

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Questions about Section 18

What does Section 18 of the Finance Act deal with?

Section 18 of the Finance Act is headed "Amendment of section 47". Amendment of section 47. 18. In section 47 of the Income-tax Act, with effect from the 1st day of April, 2015,— (a) | after clause (viia), the following shall be inserted, namely:— '(viib) | any transfer of a capital asset, being a Government Security carrying a periodic payment of interest, made ou

How do I find court cases under Section 18 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 18, section 18 Finance Act 2014, section 18 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 18 of the Finance Act, and has it changed?

Its own text turns on section 10 (Amendment of section 24), section 47 (Amendment of section 133A), Income-tax Act 47 (Transactions not regarded as transfer), so none of them can safely be read on its own.

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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'(viib)		any transfer of a capital asset, being a Government Security carrying a periodic payment of interest, made outside India through an intermediary dealing in settlement of securities, by a non-resident to another non-resident.
		Explanation.—For the purposes of this clause, "Government Security" shall have the meaning assigned to it in clause (b) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);';

'(xvii)		any transfer of a capital asset, being share of a special purpose vehicle to a business trust in exchange of units allotted by that trust to the transferor.
		Explanation.—For the purposes of this clause, the expression "special purpose vehicle" shall have the meaning assigned to it in the Explanation to clause (23FC) of section 10.'.