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Section59
The Finance Act, 2014

Amendment of section 194LBA

In force Act 25 of 2014 As on 07 Oct 2026

Act 25 of 2014 Ministry Finance

Section 59 of the Finance Act, 2014 deals with amendment of section 194LBA. Amendment of section 194LBA. 59. In section 194LC of the Income-tax Act, with effect from the 1st day of October, 2014,— (A) | in sub-section (1), after the words "by a specified company", the words "or a business trust" shall be inserted;

Amendment of section 194LBA.

59. In section 194LC of the Income-tax Act, with effect from the 1st day of October, 2014,—

(A)in sub-section (1), after the words "by a specified company", the words "or a business trust" shall be inserted;
(B)in sub-section (2),—
(a)in the opening portion, after the words "by the specified company", the words "or the business trust" shall be inserted;
(b)for clause (i), the following clause shall be substituted, namely:—
"(i)in respect of monies borrowed by it in foreign currency from a source outside India,—
(a)under a loan agreement at any time on or after the 1st day of July, 2012 but before the 1st day of July, 2017; or
(b)by way of issue of long-term infrastructure bonds at any time on or after the 1st day of July, 2012 but before the 1st day of October, 2014; or
(c)by way of issue of any long-term bond including long-term infrastructure bond at any time on or after the 1st day of October, 2014 but before the 1st day of July, 2017,
as approved by the Central Government in this behalf; and".

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Section 59, 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

  1. Income-tax Act s. 194LC Income by way of interest from Indian company

Questions about Section 59

What does Section 59 of the Finance Act deal with?

Section 59 of the Finance Act is headed "Amendment of section 194LBA". Amendment of section 194LBA. 59. In section 194LC of the Income-tax Act, with effect from the 1st day of October, 2014,— (A) | in sub-section (1), after the words "by a specified company", the words "or a business trust" shall be inserted;

How do I find court cases under Section 59 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 59, section 59 Finance Act 2014, section 59 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 59 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 194LC (Income by way of interest from Indian company), 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

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.