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Section22
The Finance Act, 2017

Amendment of section 45

In force As on 07 Oct 2026

Ministry Finance Enacted 17 Apr 2017 Cited by 2 provisions

Section 22 of the Finance Act, 2017 deals with amendment of section 45. Amendment of section 45. 22. In section 45 of the Income-tax Act, after sub-section (5) and the Explanation thereto, the following sub-section shall be inserted with effect from the 1st day of April, 2018, namely:— '(5A) Notwithstanding anything contained in sub-section (1), where the capital gain a The Act was enacted on 17 Apr 2017.

Amendment of section 45.

22. In section 45 of the Income-tax Act, after sub-section (5) and the Explanation thereto, the following sub-section shall be inserted with effect from the 1st day of April, 2018, namely:—

'(5A) Notwithstanding anything contained in sub-section (1), where the capital gain arises to an assessee, being an individual or a Hindu undivided family, from the transfer of a capital asset, being land or building or both, under a specified agreement, the capital gains shall be chargeable to income-tax as income of the previous year in which the certificate of completion for the whole or part of the project is issued by the competent authority; and for the purposes of section 48, the stamp duty value, on the date of issue of the said certificate, of his share, being land or building or both in the project, as increased by the consideration received in cash, if any, shall be deemed to be the full value of the consideration received or accruing as a result of the transfer of the capital asset :

Provided that the provisions of this sub-section shall not apply where the assessee transfers his share in the project on or before the date of issue of said certificate of completion, and the capital gains shall be deemed to be the income of the previous year in which such transfer takes place and the provisions of this Act, other than the provisions of this sub-section, shall apply for the purpose of determination of full value of consideration received or accruing as a result of such transfer.

Explanation.—For the purposes of this sub-section, the expression—

(i)"competent authority" means the authority empowered to approve the building plan by or under any law for the time being in force;
(ii)"specified agreement" means a registered agreement in which a person owning land or building or both, agrees to allow another person to develop a real estate project on such land or building or both, in consideration of a share, being land or building or both in such project, whether with or without payment of part of the consideration in cash;
(iii)"stamp duty value" means the value adopted or assessed or assessable by any authority of Government for the purpose of payment of stamp duty in respect of an immovable property being land or building or both.'.
Section 22, The Finance Act, 2017.

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. s. 45 Insertion of new section 115BBG
  2. s. 48 Amendment of section 115JD
  3. Income-tax Act s. 45 Capital gains

Referred to by 2

  1. s. 165 Amendment of Act 42 of 1999
  2. s. 170 Amendment of Act 27 of 2008

Questions about Section 22

What does Section 22 of the Finance Act deal with?

Section 22 of the Finance Act is headed "Amendment of section 45". Amendment of section 45. 22. In section 45 of the Income-tax Act, after sub-section (5) and the Explanation thereto, the following sub-section shall be inserted with effect from the 1st day of April, 2018, namely:— '(5A) Notwithstanding anything contained in sub-section (1), where the capital gain a

How do I find court cases under Section 22 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 2017 22, section 22 Finance Act 2017, section 22 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 22 of the Finance Act, and has it changed?

Its own text turns on section 45 (Insertion of new section 115BBG), section 48 (Amendment of section 115JD), Income-tax Act 45 (Capital gains), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.

When was Section 22 of the Finance Act enacted?

Section 22 of the Finance Act, cited as Finance Act 2017 22, was enacted on 17 Apr 2017. 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.