eCourtsIndia
IndiaCode Laws
Section30
The Finance Act, 2018

Insertion of new section 80PA

In force Act 13 of 2018 As on 10 Oct 2026

Act 13 of 2018 Ministry Finance Cited by 2 provisions

Section 30 of the Finance Act, 2018 deals with insertion of new section 80PA. Insertion of new section 80PA. 30. After section 80P of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2019, namely:— '80PA.

Insertion of new section 80PA.

30. After section 80P of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2019, namely:—

'80PA. Deduction in respect of certain income of Producer Companies.—

(1) Where the gross total income of an assessee, being a Producer Company having a total turnover of less than one hundred crore rupees in any previous year, includes any profits and gains derived from eligible business, there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction of an amount equal to one hundred per cent of the profits and gains attributable to such business for the previous year relevant to an assessment year commencing on or after the 1st day of April, 2019, but before the 1st day of April, 2025.

(2) In a case where the assessee is entitled also to deduction under any other provision of this Chapter, the deduction under this section shall be allowed with reference to the income, if any, as referred to in this section included in the gross total income as reduced by the deductions under such other provision of this Chapter.

Explanation.—For the purposes of this section,—

(i)"eligible business" means—
(a)the marketing of agricultural produce grown by the members; or
(b)the purchase of agricultural implements, seeds, livestock or other articles intended for agriculture for the purpose of supplying them to the members; or
(c)the processing of the agricultural produce of the members;
(ii)"member" shall have the meaning assigned to it in clause (d) of section 581A of the Companies Act, 1956; (1 of 1956)
(iii)"Producer Company" shall have the meaning assigned to it in clause (l) of section 581A of the Companies Act, 1956 (1 of 1956).'.
Section 30, 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.

This section refers to

  1. Income-tax Act s. 80P Deduction in respect of income of co-operative societies

Referred to by 2

  1. s. 73 Amendment of section 30
  2. s. First Schedule INCOME-TAX

Questions about Section 30

What does Section 30 of the Finance Act deal with?

Section 30 of the Finance Act is headed "Insertion of new section 80PA". Insertion of new section 80PA. 30. After section 80P of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2019, namely:— '80PA.

How do I find court cases under Section 30 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 30, section 30 Finance Act 2018, section 30 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 30 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 80P (Deduction in respect of income of co-operative societies), 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

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.