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Section84
The Finance Act, 2016

Insertion of new section 194LBC

In force As on 10 Oct 2026

Ministry Finance Enacted 27 Jun 2016

Section 84 of the Finance Act, 2016 deals with insertion of new section 194LBC. Insertion of new section 194LBC. 84. After section 194LBB of the Income-tax Act, the following section shall be inserted with effect from the 1st day of June, 2016, namely:— '194LBC. The Act was enacted on 27 Jun 2016.

Insertion of new section 194LBC.

84. After section 194LBB of the Income-tax Act, the following section shall be inserted with effect from the 1st day of June, 2016, namely:—

'194LBC. Income in respect of investment in securitization trust.—(1) Where any income is payable to an investor, being a resident, in respect of an investment in a securitisation trust specified in clause (d) of the Explanation occurring after section 115TCA, the person responsible for making the payment shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon, at the rate of—

(i)twenty-five per cent, if the payee is an individual or a Hindu undivided family;
(ii)thirty per cent, if the payee is any other person.

(2) Where any income is payable to an investor, being a non-resident (not being a company) or a foreign company, in respect of an investment in a securitisation trust specified in clause (d) of the Explanation occurring after section 115TCA, the person responsible for making the payment shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon, at the rates in force.

Explanation.—For the purposes of this section,—

(a)"investor" shall have the meaning assigned to it in clause (a) of the Explanation occurring after section 115TCA;
(b)where any income as aforesaid is credited to any account, whether called "suspense account" or by any other name, in the books of account of the person liable to pay such income, such crediting shall be deemed to be the credit of such income to the account of the payee, and the provisions of this section shall apply accordingly.'.
Section 84, 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. Income-tax Act s. 194LBB Income in respect of units of investment fund

Questions about Section 84

What does Section 84 of the Finance Act deal with?

Section 84 of the Finance Act is headed "Insertion of new section 194LBC". Insertion of new section 194LBC. 84. After section 194LBB of the Income-tax Act, the following section shall be inserted with effect from the 1st day of June, 2016, namely:— '194LBC.

How do I find court cases under Section 84 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 84, section 84 Finance Act 2016, section 84 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 84 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 194LBB (Income in respect of units of investment fund), so none of them can safely be read on its own.

When was Section 84 of the Finance Act enacted?

Section 84 of the Finance Act, cited as Finance Act 2016 84, 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.