Insertion of new section 50CA
Section 26 of the Finance Act, 2017 deals with insertion of new section 50CA. Insertion of new section 50CA. 26. After section 50C of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2018, namely:— '50CA. The Act was enacted on 17 Apr 2017.
Insertion of new section 50CA.
26. After section 50C of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2018, namely:—
'50CA. Special provision for full value of consideration for transfer of share other than quoted share.—Where the consideration received or accruing as a result of the transfer by an assessee of a capital asset, being share of a company other than a quoted share, is less than the fair market value of such share determined in such manner as may be prescribed, the value so determined shall, for the purposes of section 48, be deemed to be the full value of consideration received or accruing as a result of such transfer.
Explanation.—For the purposes of this section, "quoted share" means the share quoted on any recognised stock exchange with regularity from time to time, where the quotation of such share is based on current transaction made in the ordinary course of business.'.
Section 26, The Finance Act, 2017.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 26
What does Section 26 of the Finance Act deal with?
Section 26 of the Finance Act is headed "Insertion of new section 50CA". Insertion of new section 50CA. 26. After section 50C of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2018, namely:— '50CA.
How do I find court cases under Section 26 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 26, section 26 Finance Act 2017, section 26 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 26 of the Finance Act, and has it changed?
Its own text turns on section 48 (Amendment of section 115JD), Income-tax Act 50C (Special provision for full value of consideration in certain cases), so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it.
When was Section 26 of the Finance Act enacted?
Section 26 of the Finance Act, cited as Finance Act 2017 26, was enacted on 17 Apr 2017. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. Income-tax8321 words
- 2. Income-tax4071 words
- 148. Amendment of Chapter VIB1616 words
- 47. Amendment of section 115JB1176 words
- 6. Amendment of section 10856 words
- Sixth Schedule. Sixth Schedule820 words
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