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Section60
The Finance Act, 2016

Amendment of section 115TC

In force As on 05 Oct 2026

Ministry Finance Enacted 27 Jun 2016 Cited by 2 provisions

Section 60 of the Finance Act, 2016 deals with amendment of section 115TC. Amendment of section 115TC. 60. In section 115TC of the Income-tax Act, in the Explanation, with effect from the 1st day of June, 2016,— (A) | in clause (a), after the words "or securities", the words "or security receipt" shall be inserted; The Act was enacted on 27 Jun 2016.

Amendment of section 115TC.

60. In section 115TC of the Income-tax Act, in the Explanation, with effect from the 1st day of June, 2016,—

(A)in clause (a), after the words "or securities", the words "or security receipt" shall be inserted;
(B)in clause (d),—
(I)in sub-clause (ii), after the words "Reserve Bank of India,", the word ";or" shall be inserted;
(II)after sub-clause (ii) and before the long line, the following sub-clause shall be inserted, namely:—
"(iii)trust set-up by a securitisation company or a reconstruction company formed, for the purposes of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), or in pursuance of any guidelines or directions issued for the said purposes by the Reserve Bank of India,";
(C)after clause (d), the following clause shall be inserted, namely:—
'(e)"security receipt" shall have the same meaning as assigned to it in clause (zg) of sub-section (1) of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002)'.
Section 60, 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. 2 Income-tax
  2. Income-tax Act s. 115TC Securitisation trust to be assessee in default

Referred to by 2

  1. s. 127 Substitution of new section for section 60
  2. s. 128 Substitution of new section for section 61

Questions about Section 60

What does Section 60 of the Finance Act deal with?

Section 60 of the Finance Act is headed "Amendment of section 115TC". Amendment of section 115TC. 60. In section 115TC of the Income-tax Act, in the Explanation, with effect from the 1st day of June, 2016,— (A) | in clause (a), after the words "or securities", the words "or security receipt" shall be inserted;

How do I find court cases under Section 60 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 60, section 60 Finance Act 2016, section 60 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 60 of the Finance Act, and has it changed?

Its own text turns on section 2 (Income-tax), Income-tax Act 115TC (Securitisation trust to be assessee in default), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.

When was Section 60 of the Finance Act enacted?

Section 60 of the Finance Act, cited as Finance Act 2016 60, 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.