Insertion of new section 285A
Section 78 of the Finance Act, 2015 deals with insertion of new section 285A. Insertion of new section 285A. 78. After section 285 of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2016, namely:— "285A.
Insertion of new section 285A.
78. After section 285 of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2016, namely:—
"285A. Furnishing of information or documents by an Indian concern in certain cases.—Where any share of, or interest in, a company or an entity registered or incorporated outside India derives, directly or indirectly, its value substantially from the assets located in India, as referred to in Explanation 5 to clause (i) of sub-section (1) of section 9, and such company or, as the case may be, entity, holds, directly or indirectly, such assets in India through, or in, an Indian concern, then, such Indian concern shall, for the purposes of determination of any income accruing or arising in India under clause (i) of sub-section (1) of section 9, furnish within the prescribed period to the prescribed income-tax authority the information or documents, in such manner, as may be prescribed.".
Section 78, 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.
Questions about Section 78
What does Section 78 of the Finance Act deal with?
Section 78 of the Finance Act is headed "Insertion of new section 285A". Insertion of new section 285A. 78. After section 285 of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2016, namely:— "285A.
How do I find court cases under Section 78 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 78, section 78 Finance Act 2015, section 78 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 78 of the Finance Act, and has it changed?
Its own text turns on section 9 (Amendment of section 13), Income-tax Act 285 (Submission of statement by a non-resident having liaison office), 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.
Other sections of this Act
- First Schedule. First Schedule8029 words
- Fifth Schedule. Fifth Schedule4392 words
- 2. Income-tax3525 words
- 94. Substitution of new section for section 11AC1125 words
- 6. Insertion of new section 9A1095 words
- 5. Amendment of section 91039 words
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