Savings

Q: When was Section 240 of the Finance Act enacted?

Section 240 of the Finance Act, cited as Finance Act 2016 240, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.

In force As on 07 Oct 2026

Ministry Finance Enacted 27 Jun 2016

Section 240 of the Finance Act, 2016 deals with savings. Savings 240. (1) The repeal by this Act of the enactments specified in the Fifteenth Schedule or amendments therein shall not— (a) | affect any other enactment in which the repealed enactment has been applied, incorporated or referred to; The Act was enacted on 27 Jun 2016.

Savings
240. (1) The repeal by this Act of the enactments specified in the Fifteenth Schedule or amendments therein shall not—
(a) affect any other enactment in which the repealed enactment has been applied, incorporated or referred to;
(b) affect the validity, invalidity, effect or consequences of anything already done or suffered, or any right, title, obligation or liability already acquired, accrued or incurred or any remedy or proceeding in respect thereof, or any release or discharge of or from any debt, penalty, obligation, liability, claim or demand, or any indemnity already granted, or the proof of any past act or thing;
(c) affect any principle or rule of law, or established jurisdiction, form or course of pleading, practice or procedure, or existing usage, custom, privilege, restriction, exemption, office or appointment, notwithstanding that the same respectively may have been in any manner affirmed or recognised or derived by, in or from any enactment hereby repealed;
(d) revive or restore any jurisdiction, office, custom, liability, right, title, privilege, restriction, exemption, usage, practice, procedure or other matter or thing not now existing or in force.
(2) The mention of particular matters in sub-section (1) shall not be held to prejudice or affect the general application of section 6 of the General Clauses Act, 1897 (10 of 1897), with regard to the effect of repeals.
Section 240, The Finance Act, 2016.

Cross-references

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

This section refers to

General Clauses Act s. 6 Effect of repeal

Questions about Section 240

What does Section 240 of the Finance Act deal with?

Section 240 of the Finance Act is headed "Savings". Savings 240. (1) The repeal by this Act of the enactments specified in the Fifteenth Schedule or amendments therein shall not— (a) | affect any other enactment in which the repealed enactment has been applied, incorporated or referred to;

How do I find court cases under Section 240 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 2016 240, section 240 Finance Act 2016, section 240 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 240 of the Finance Act, and has it changed?

Its own text turns on General Clauses Act 6 (Effect of repeal), so none of them can safely be read on its own.

When was Section 240 of the Finance Act enacted?

Section 240 of the Finance Act, cited as Finance Act 2016 240, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.

Other sections of this Act

Fourth Schedule. Fourth Schedule21791 words
Eighth Schedule. Eighth Schedule19903 words
First Schedule. First Schedule8145 words
2. Income-tax3742 words
222. Insertion of new Chapter III F2100 words
70. Substitution of new section for section 1531931 words

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.

(a)		affect any other enactment in which the repealed enactment has been applied, incorporated or referred to;
(b)		affect the validity, invalidity, effect or consequences of anything already done or suffered, or any right, title, obligation or liability already acquired, accrued or incurred or any remedy or proceeding in respect thereof, or any release or discharge of or from any debt, penalty, obligation, liability, claim or demand, or any indemnity already granted, or the proof of any past act or thing;
(c)		affect any principle or rule of law, or established jurisdiction, form or course of pleading, practice or procedure, or existing usage, custom, privilege, restriction, exemption, office or appointment, notwithstanding that the same respectively may have been in any manner affirmed or recognised or derived by, in or from any enactment hereby repealed;
(d)		revive or restore any jurisdiction, office, custom, liability, right, title, privilege, restriction, exemption, usage, practice, procedure or other matter or thing not now existing or in force.