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Section30
The Finance Act, 2016

Amendment of section 49

In force As on 10 Oct 2026

Ministry Finance Enacted 27 Jun 2016 Cited by 4 provisions

Section 30 of the Finance Act, 2016 deals with amendment of section 49. Amendment of section 49. 30. In section 49 of the Income-tax Act, after sub-section (4), the following sub-section shall be inserted with effect from the 1st day of April, 2017, namely:— "(5) Where the capital gain arises from the transfer of an asset declared under the Income Declaration Scheme, 20 The Act was enacted on 27 Jun 2016.

Amendment of section 49.

30. In section 49 of the Income-tax Act, after sub-section (4), the following sub-section shall be inserted with effect from the 1st day of April, 2017, namely:—

"(5) Where the capital gain arises from the transfer of an asset declared under the Income Declaration Scheme, 2016, and the tax, surcharge and penalty have been paid in accordance with the provisions of the Scheme on the fair market value of the asset as on the date of commencement of the Scheme, the cost of acquisition of the asset shall be deemed to be the fair market value of the asset which has been taken into account for the purposes of the said Scheme."

Section 30, 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

  1. s. 49 Amendment of section 111A
  2. Income-tax Act s. 49 Cost with reference to certain modes of acquisition

Referred to by 4

  1. s. 27 Insertion of new section 44ADA
  2. s. 232 Amendment of Act 15 of 2003
  3. s. First Schedule First Schedule
  4. Finance Act s. 25 Amendment of section 49

Questions about Section 30

What does Section 30 of the Finance Act deal with?

Section 30 of the Finance Act is headed "Amendment of section 49". Amendment of section 49. 30. In section 49 of the Income-tax Act, after sub-section (4), the following sub-section shall be inserted with effect from the 1st day of April, 2017, namely:— "(5) Where the capital gain arises from the transfer of an asset declared under the Income Declaration Scheme, 20

How do I find court cases under Section 30 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 30, section 30 Finance Act 2016, section 30 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 30 of the Finance Act, and has it changed?

Its own text turns on section 49 (Amendment of section 111A), Income-tax Act 49 (Cost with reference to certain modes of acquisition), so none of them can safely be read on its own. 4 other provisions in this corpus refer back to it.

When was Section 30 of the Finance Act enacted?

Section 30 of the Finance Act, cited as Finance Act 2016 30, was enacted on 27 Jun 2016. 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.