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Section29
The Finance Act, 2020

Amendment of Section 56

In force As on 07 Oct 2026

Ministry Finance Cited by 1 provision

Section 29 of the Finance Act, 2020 deals with amendment of Section 56. Amendment of section 56. 29. In section 56 of the Income-tax Act, in sub-section (2),— (A) | with effect from the 1st day of June, 2020,— (i) | in clause (v), in the proviso, in clause (g), for the word, figures and letters "section 12AA", the words, figures and letters "section 12AA or section 12AB

Amendment of section 56.

29. In section 56 of the Income-tax Act, in sub-section (2),—

(A)with effect from the 1st day of June, 2020,—
(i)in clause (v), in the proviso, in clause (g), for the word, figures and letters "section 12AA", the words, figures and letters "section 12AA or section 12AB" shall be substituted;
(ii)in clause (vi), in the proviso, in clause (g), for the word, figures and letters "section 12AA", the words, figures and letters "section 12AA or section 12AB" shall be substituted;
(iii)in clause (vii), in the second proviso, in clause (g), for the word, figures and letters "section 12AA", the words, figures and letters "section 12AA or section 12AB" shall be substituted;
(B)in clause (x),—
(i)in sub-clause (b), in item (B), in sub-item (ii), for the words "five per cent", the words "ten per cent" shall be substituted with effect from the 1st day of April, 2021;
(ii)in the proviso, in clause (vii), for the words, letters and figures "section 12A or section 12AA", the words, figures and letters "section 12A or section 12AA or section 12AB" shall be substituted with effect from the 1st day of June, 2020.
Section 29, 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. 56 Amendment of Section 115JB
  2. Income-tax Act s. 56 Income from other sources

Referred to by 1

  1. s. 121 Amendment of Section 29

Questions about Section 29

What does Section 29 of the Finance Act deal with?

Section 29 of the Finance Act is headed "Amendment of Section 56". Amendment of section 56. 29. In section 56 of the Income-tax Act, in sub-section (2),— (A) | with effect from the 1st day of June, 2020,— (i) | in clause (v), in the proviso, in clause (g), for the word, figures and letters "section 12AA", the words, figures and letters "section 12AA or section 12AB

How do I find court cases under Section 29 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 29, section 29 Finance Act 2020, section 29 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 29 of the Finance Act, and has it changed?

Its own text turns on section 56 (Amendment of Section 115JB), Income-tax Act 56 (Income from other sources), 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 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.