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Section37
The Finance Act, 2019 (No. 2)

Amendment of section 115R

In force As on 07 Oct 2026

Ministry Finance Cited by 1 provision

Section 37 of the Finance Act, 2019 (No. 2) deals with amendment of section 115R. Amendment of section 115R 37. In section 115R of the Income-tax Act, in sub-section (2), with effect from the 1st day of September, 2019,— (A) | after the second proviso, before the Explanation, the following proviso shall be inserted, namely:— "Provided also that no additional income-tax shall be c

Amendment of section 115R

37. In section 115R of the Income-tax Act, in sub-section (2), with effect from the 1st day of September, 2019,—

(A)after the second proviso, before the Explanation, the following proviso shall be inserted, namely:—
"Provided also that no additional income-tax shall be chargeable in respect of any amount of income distributed on or after the 1st day of September, 2019 by a specified Mutual Fund, out of its income derived from transactions made on a recognised stock exchange located in any International Financial Services Centre and where the consideration for such transaction is paid or payable in convertible foreign exchange:";
(B)in the Explanation,—
(a)after clause (i), the following clause shall be inserted, namely:—
'(ia)"convertible foreign exchange" means foreign exchange which is for the time being treated by the Reserve Bank of India as convertible foreign exchange for the purposes of the Foreign Exchange Management Act, 1999 (42 of 1999) and the rules made thereunder;';
(b)after clause (ii), the following clauses shall be inserted, namely:—
'(iii)"International Financial Services Centre" shall have the meaning assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005);
(iv)"recognised stock exchange" shall have the meaning assigned to it in clause (ii) of Explanation 1 to clause (5) of section 43;
(v)"specified Mutual Fund" means a Mutual Fund specified under clause (23D) of section 10—
(a)located in any International Financial Services Centre;
(b)of which all the units are held by non-residents;
(vi)"unit" means beneficial interest of an investor in the fund;'.
Section 37, The Finance Act, 2019 (No. 2).

Cross-references

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

This section refers to

  1. s. 10 Amendment of section 40
  2. s. 43 Amendment of section 143
  3. Income-tax Act s. 115R Tax on distributed income to unit holders

Referred to by 1

  1. s. First Schedule Income-tax

Questions about Section 37

What does Section 37 of the Finance Act, 2019 (No. 2) deal with?

Section 37 of the Finance Act, 2019 (No. 2) is headed "Amendment of section 115R". Amendment of section 115R 37. In section 115R of the Income-tax Act, in sub-section (2), with effect from the 1st day of September, 2019,— (A) | after the second proviso, before the Explanation, the following proviso shall be inserted, namely:— "Provided also that no additional income-tax shall be c

How do I find court cases under Section 37 of the Finance Act, 2019 (No. 2)?

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, 2019 (No. 2) 37, section 37 Finance Act, 2019 (No. 2), section 37 of the Finance Act, 2019 (No. 2). 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 37 of the Finance Act, 2019 (No. 2), and has it changed?

Its own text turns on section 10 (Amendment of section 40), section 43 (Amendment of section 143), Income-tax Act 115R (Tax on distributed income to unit holders), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was the Finance Act, 2019 (No. 2) enacted?

Finance Act, 2019 (No. 2) was enacted in 2019. 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.