eCourtsIndia
IndiaCode Laws
Section21
The Finance Act, 2020

Amendment of Section 43

In force As on 05 Oct 2026

Ministry Finance

Section 21 of the Finance Act, 2020 deals with amendment of Section 43. Amendment of section 43. 21. In section 43 of the Income-tax Act, in clause (5),— (a) | for the words "recognised association" wherever they occur, the words "recognised stock exchange" shall be substituted;

Amendment of section 43.

21. In section 43 of the Income-tax Act, in clause (5),—

(a)for the words "recognised association" wherever they occur, the words "recognised stock exchange" shall be substituted;
(b)in Explanation 2, for clause (iii), the following clause shall be substituted, namely:—
'(iii)"recognised stock exchange" means a recognised stock ex-change as referred to in clause (f) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and which fulfils such conditions as may be prescribed and notified by the Central Government for this purpose;'.
Section 21, 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

  1. s. 43 Amendment of Section 92CB
  2. Income-tax Act s. 43 Definitions of certain terms relevant to income from profits and gains of business or profession

Questions about Section 21

What does Section 21 of the Finance Act deal with?

Section 21 of the Finance Act is headed "Amendment of Section 43". Amendment of section 43. 21. In section 43 of the Income-tax Act, in clause (5),— (a) | for the words "recognised association" wherever they occur, the words "recognised stock exchange" shall be substituted;

How do I find court cases under Section 21 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 21, section 21 Finance Act 2020, section 21 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 21 of the Finance Act, and has it changed?

Its own text turns on section 43 (Amendment of Section 92CB), Income-tax Act 43 (Definitions of certain terms relevant to income from profits and gains of business or profession), 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

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.