eCourtsIndia
IndiaCode Laws
Section51
The Finance Act, 2016

Insertion of new section 115BA

In force As on 07 Oct 2026

Ministry Finance Enacted 27 Jun 2016 Cited by 2 provisions

Section 51 of the Finance Act, 2016 deals with insertion of new section 115BA. Insertion of new section 115BA. 51. After section 115B of the Income-tax Act, with effect from the 1st day of April, 2017, the following section shall be inserted, namely:— "115BA. The Act was enacted on 27 Jun 2016.

Insertion of new section 115BA.

51. After section 115B of the Income-tax Act, with effect from the 1st day of April, 2017, the following section shall be inserted, namely:—

"115BA. Tax on income of certain domestic companies.—(1) Notwithstanding anything contained in this Act but subject to the provisions of section 111A and section 112, the income-tax payable in respect of the total income of a person, being a domestic company, for any previous year relevant to the assessment year beginning on or after the 1st day of April, 2017, shall, at the option of such person, be computed at the rate of twenty-five per cent, if the conditions contained in sub-section (2) are satisfied.

(2) For the purposes of sub-section (1), the following conditions shall apply, namely:—

(a)the company has been set-up and registered on or after the 1st day of March, 2016;
(b)the company is not engaged in any business other than the business of manufacture or production of any article or thing and research in relation to, or distribution of, such article or thing manufactured or produced by it; and
(c)the total income of the company has been computed,—
(i)without any deduction under the provisions of section 10AA or clause (iia) of sub-section (1) of section 32 or section 32AC or section 32AD or section 33AB or section 33ABA or sub-clause (ii) or sub-clause (iia) or sub-clause (iii) of sub-section (1) or sub-section (2AA) or sub-section (2AB) of section 35 or section 35AC or section 35AD or section 35CCC or section 35CCD or under any provisions of Chapter VI-A under the heading "C.—Deductions in respect of certain incomes" other than the provisions of section 80JJAA;
(ii)without set off of any loss carried forward from any earlier assessment year if such loss is attributable to any of the deductions referred to in sub-clause (i); and
(iii)depreciation under section 32, other than clause (iia) of sub-section (1) of the said section, is determined in the manner as may be prescribed.

(3) The loss referred to in sub-clause (ii) of clause (c) of sub-section (2) shall be deemed to have been already given full effect to and no further deduction for such loss shall be allowed for any subsequent year.

(4) Nothing contained in this section shall apply unless the option is exercised by the person in the prescribed manner on or before the due date specified under sub-section (1) of section 139 for furnishing the first of the returns of income which the person is required to furnish under the provisions of this Act:

Provided that once the option has been exercised for any previous year, it cannot be subsequently withdrawn for the same or any other previous year.".

Section 51, 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. 32 Insertion of new section 54EE
  2. s. 35 Amendment of section 56
  3. s. 112 Amendment of section 282A
  4. s. 139 Amendment of notifications issued under section 25 of Act 52 of 1962
  5. Income-tax Act s. 115B Tax on profits and gains of life insurance business

Referred to by 2

  1. s. 122 Amendment of section 51
  2. s. 138 Amendment of section 156

Questions about Section 51

What does Section 51 of the Finance Act deal with?

Section 51 of the Finance Act is headed "Insertion of new section 115BA". Insertion of new section 115BA. 51. After section 115B of the Income-tax Act, with effect from the 1st day of April, 2017, the following section shall be inserted, namely:— "115BA.

How do I find court cases under Section 51 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 51, section 51 Finance Act 2016, section 51 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 51 of the Finance Act, and has it changed?

Its own text turns on section 32 (Insertion of new section 54EE), section 35 (Amendment of section 56), section 112 (Amendment of section 282A), section 139 (Amendment of notifications issued under section 25 of Act 52 of 1962), and on 1 further provision, so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.

When was Section 51 of the Finance Act enacted?

Section 51 of the Finance Act, cited as Finance Act 2016 51, 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.