Amendment of Section 117

In force As on 07 Oct 2026

Ministry Finance

Section 149 of the Finance Act, 2020 deals with amendment of Section 117. Amendment of section 117. 149. In section 117 of the principal Act, for the Table, the following Table shall be substituted with effect from the 1st day of April, 2020, namely:— "TABLE Sl.

Amendment of section 117.
149. In section 117 of the principal Act, for the Table, the following Table shall be substituted with effect from the 1st day of April, 2020, namely:—
"TABLE
Sl. No. Taxable commodities transaction Rate Payable by
(1) (2) (3) (4)
1. Sale of commodity derivative 0.01 per cent seller
2. Sale of commodity derivatives based on prices or indices of prices of commodity derivatives 0.01 per cent seller
3. Sale of option on commodity derivative 0.05 per cent seller
4. Sale of option in goods 0.05 per cent seller
5. Sale of option on commodity derivative, where option is exercised 0.0001 per cent purchaser
6. Sale of option in goods, where option is exercised resulting in actual delivery of goods 0.0001 per cent purchaser
7. Sale of option in goods, where option is exercised resulting in a settlement otherwise than by the actual delivery of goods 0.125 per cent purchaser.".
Section 149, The Finance Act, 2020.

Cross-references

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

This section refers to

s. 117 Amendment of First Schedule

Questions about Section 149

What does Section 149 of the Finance Act deal with?

Section 149 of the Finance Act is headed "Amendment of Section 117". Amendment of section 117. 149. In section 117 of the principal Act, for the Table, the following Table shall be substituted with effect from the 1st day of April, 2020, namely:— "TABLE Sl.

How do I find court cases under Section 149 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 2020 149, section 149 Finance Act 2020, section 149 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 149 of the Finance Act, and has it changed?

Its own text turns on section 117 (Amendment of First Schedule), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 2020. 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

2. Income-tax5875 words
7. Amendment of Section 102233 words
53. Insertion of new sections 115BAC and 115BAD1625 words
153. Amendment of Act 28 of 20161366 words
116. Substitution of new section for section 8B1203 words
95. Amendment of Section 206C1116 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.

Sl. No.	Taxable commodities transaction	Rate	Payable by
(1)	(2)	(3)	(4)
1.	Sale of commodity derivative	0.01 per cent	seller
2.	Sale of commodity derivatives based on prices or indices of prices of commodity derivatives	0.01 per cent	seller
3.	Sale of option on commodity derivative	0.05 per cent	seller
4.	Sale of option in goods	0.05 per cent	seller
5.	Sale of option on commodity derivative, where option is exercised	0.0001 per cent	purchaser
6.	Sale of option in goods, where option is exercised resulting in actual delivery of goods	0.0001 per cent	purchaser
7.	Sale of option in goods, where option is exercised resulting in a settlement otherwise than by the actual delivery of goods	0.125 per cent	purchaser.".