Amendment of section 194A

In force Act 20 of 2015 As on 07 Oct 2026

Act 20 of 2015 Ministry Finance Cited by 2 provisions

Section 43 of the Finance Act, 2015 deals with amendment of section 194A. Amendment of section 194A. 43. In section 194A of the Income-tax Act, in sub-section (3), with effect from the 1st day of June, 2015,— (a) | in clause (i), after the proviso, the following proviso shall be inserted, namely:— "Provided further that the amount referred to in the first proviso shall be

Amendment of section 194A.
43. In section 194A of the Income-tax Act, in sub-section (3), with effect from the 1st day of June, 2015,—
(a) in clause (i), after the proviso, the following proviso shall be inserted, namely:—
"Provided further that the amount referred to in the first proviso shall be computed with reference to the income credited or paid by the banking company or the co-operative society or the public company, as the case may be, where such banking company or the co-operative society or the public company has adopted core banking solutions;";
(b) in clause (v), for the words "paid by a co-operative society to a member thereof or", the words and brackets "paid by a co-operative society (other than a co-operative bank) to a member thereof or to such income credited or paid by a co-operative society" shall be substituted;
(c) after clause (v), the following Explanation shall be inserted, namely:—
'Explanation.—For the purposes of this clause, "co-operative bank" shall have the same meaning assigned to it in Part V of the Banking Regulation Act, 1949 (10 of 1949);';
(d) for clause (ix), the following clauses shall be substituted, namely:—
"(ix) to such income credited by way of interest on the compensation amount awarded by the Motor Accidents Claims Tribunal;
(ixa) to such income paid by way of interest on the compensation amount awarded by the Motor Accidents Claims Tribunal where the amount of such income or, as the case may be, the aggregate of the amounts of such income paid during the financial year does not exceed fifty thousand rupees;";
(e) in Explanation 1 below clause (xi), for the word "excluding", the word "including" shall be substituted.
Section 43, The Finance Act, 2015 (Act 20 of 2015).

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. 194A Interest other than "Interest on securities"

Referred to by 2

Questions about Section 43

What does Section 43 of the Finance Act deal with?

Section 43 of the Finance Act is headed "Amendment of section 194A". Amendment of section 194A. 43. In section 194A of the Income-tax Act, in sub-section (3), with effect from the 1st day of June, 2015,— (a) | in clause (i), after the proviso, the following proviso shall be inserted, namely:— "Provided further that the amount referred to in the first proviso shall be

How do I find court cases under Section 43 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 2015 43, section 43 Finance Act 2015, section 43 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 43 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 194A (Interest other than "Interest on securities"), 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 2015 as Act 20 of 2015. India Code records no commencement date for it. It is in force as at the date shown on this page.

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5. Amendment of section 91039 words

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(a)		in clause (i), after the proviso, the following proviso shall be inserted, namely:—
		"Provided further that the amount referred to in the first proviso shall be computed with reference to the income credited or paid by the banking company or the co-operative society or the public company, as the case may be, where such banking company or the co-operative society or the public company has adopted core banking solutions;";
(b)		in clause (v), for the words "paid by a co-operative society to a member thereof or", the words and brackets "paid by a co-operative society (other than a co-operative bank) to a member thereof or to such income credited or paid by a co-operative society" shall be substituted;
(c)		after clause (v), the following Explanation shall be inserted, namely:—
		'Explanation.—For the purposes of this clause, "co-operative bank" shall have the same meaning assigned to it in Part V of the Banking Regulation Act, 1949 (10 of 1949);';
(d)		for clause (ix), the following clauses shall be substituted, namely:—

"(ix)		to such income credited by way of interest on the compensation amount awarded by the Motor Accidents Claims Tribunal;
(ixa)		to such income paid by way of interest on the compensation amount awarded by the Motor Accidents Claims Tribunal where the amount of such income or, as the case may be, the aggregate of the amounts of such income paid during the financial year does not exceed fifty thousand rupees;";