Amendment of section 56
Section 24 of the Finance Act, 2021 deals with amendment of section 56. Amendment of section 56. 24. In section 56 of the Income-tax Act, in sub-section (2), in clause (x),— (a) | in sub-clause (b), in item (B), after the third proviso, the following proviso shall be inserted, namely:— "Provided also that in case of property being referred to in the second proviso to su
Amendment of section 56.
24. In section 56 of the Income-tax Act, in sub-section (2), in clause (x),—
Section 24, The Finance Act, 2021.
(a) in sub-clause (b), in item (B), after the third proviso, the following proviso shall be inserted, namely:— "Provided also that in case of property being referred to in the second proviso to sub-section (1) of section 43CA, the provisions of sub-item (ii) of item (B) shall have effect as if for the words "ten per cent", the words "twenty per cent" had been substituted;"; (b) in the proviso, in clause (IX) after the words, brackets and figures "clause (vii)", the words, brackets, figures and letters "or clause (viiac) or clause (viiad) or clause (viiae) or clause (viiaf)" shall be inserted with effect from the 1st day of April, 2022.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Questions about Section 24
What does Section 24 of the Finance Act deal with?
Section 24 of the Finance Act is headed "Amendment of section 56". Amendment of section 56. 24. In section 56 of the Income-tax Act, in sub-section (2), in clause (x),— (a) | in sub-clause (b), in item (B), after the third proviso, the following proviso shall be inserted, namely:— "Provided also that in case of property being referred to in the second proviso to su
How do I find court cases under Section 24 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 2021 24, section 24 Finance Act 2021, section 24 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 24 of the Finance Act, and has it changed?
Its own text turns on section 56 (Amendment of section 206AA), Income-tax Act 56 (Income from other sources), so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 2021. 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
- Fourth Schedule. Fourth Schedule26628 words
- First Schedule. First Schedule9574 words
- 2. Income-tax5993 words
- 6. Amendment of section 103582 words
- 130. Substitution of new section for section 43513 words
- 131. Substitution of new section for section 52699 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.