Amendment of section 111A
Section 49 of the Finance Act, 2016 deals with amendment of section 111A. Amendment of section 111A. 49. In section 111A of the Income-tax Act with effect from the lst day of April, 2017,— '(i) | in sub-section (1), after the proviso the following proviso shall be inserted, namely:— "Provided further that nothing contained in clause (b) shall apply to a transaction undert The Act was enacted on 27 Jun 2016.
Amendment of section 111A.
49. In section 111A of the Income-tax Act with effect from the lst day of April, 2017,—
'(i) in sub-section (1), after the proviso the following proviso shall be inserted, namely:— "Provided further that nothing contained in clause (b) shall apply to a transaction undertaken on a recognised stock exchange located in any International Financial Services Centre and where the consideration for such transaction is paid or payable in foreign currency."; (ii) for the Explanation below sub-section (3), the following shall be substituted, namely:— Explanation.—For the purposes of this section,— Section 49, The Finance Act, 2016.
(a) "equity oriented fund" shall, have the meaning assigned to it in the Explanation to clause (38) of section 10; (b) "International Financial Services Centre" shall have the same meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005); (c) "recognised stock exchange" shall have the meaning assigned to it in clause (ii) of the Explanation 1 to sub-section (5) of section 43.'.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
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Questions about Section 49
What does Section 49 of the Finance Act deal with?
Section 49 of the Finance Act is headed "Amendment of section 111A". Amendment of section 111A. 49. In section 111A of the Income-tax Act with effect from the lst day of April, 2017,— '(i) | in sub-section (1), after the proviso the following proviso shall be inserted, namely:— "Provided further that nothing contained in clause (b) shall apply to a transaction undert
How do I find court cases under Section 49 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 49, section 49 Finance Act 2016, section 49 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 49 of the Finance Act, and has it changed?
Its own text turns on section 10 (Amendment of section 24), section 43 (Amendment of section 80-IB), Income-tax Act 111A (Tax on short-term capital gains in certain cases), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When was Section 49 of the Finance Act enacted?
Section 49 of the Finance Act, cited as Finance Act 2016 49, 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
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