Amendment of section 79
Section 24 of the Finance Act, 2018 deals with amendment of section 79. Amendment of section 79. 24. In section 79 of the Income-tax Act [as substituted by section 32 of the Finance Act, 2017 (7 of 2017)], after the second proviso, the following proviso shall be inserted, namely:— "Provided also that nothing contained in this section shall apply to a company where a cha
Amendment of section 79.
24. In section 79 of the Income-tax Act [as substituted by section 32 of the Finance Act, 2017 (7 of 2017)], after the second proviso, the following proviso shall be inserted, namely:—
"Provided also that nothing contained in this section shall apply to a company where a change in the shareholding takes place in a previous year pursuant to a resolution plan approved under the Insolvency and Bankruptcy Code, 2016 (31 of 2016), after affording a reasonable opportunity of being heard to the jurisdictional Principal Commissioner or Commissioner.".
Section 24, The Finance Act, 2018 (Act 13 of 2018).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 24
What does Section 24 of the Finance Act deal with?
Section 24 of the Finance Act is headed "Amendment of section 79". Amendment of section 79. 24. In section 79 of the Income-tax Act [as substituted by section 32 of the Finance Act, 2017 (7 of 2017)], after the second proviso, the following proviso shall be inserted, namely:— "Provided also that nothing contained in this section shall apply to a company where a cha
How do I find court cases under Section 24 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 2018 24, section 24 Finance Act 2018, section 24 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 24 of the Finance Act, and has it changed?
Its own text turns on Finance Act 32 (Substitution of new section for section 79), section 79 (Amendment of section 51), Income-tax Act 79 (Carry forward and set off of losses in case of certain companies), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 2018 as Act 13 of 2018. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. INCOME-TAX8472 words
- 2. Income-tax4233 words
- 206. Amendment of Act 54 of 20001580 words
- Second Schedule. Second Schedule1062 words
- 33. Insertion of new section 112A756 words
- 63. Amendment of section 28707 words
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.