Amendment of section 80LA

In force As on 07 Oct 2026

Ministry Finance Cited by 1 provision

Section 30 of the Finance Act, 2021 deals with amendment of section 80LA. Amendment of section 80LA. 30. In section 80LA of the Income-tax Act, with effect from the 1st day of April, 2022,— (i) | in sub-section (1A), for the words "any other relevant laws was obtained", the words "permission or registration under the International Financial Services Centre Authority Act,

Amendment of section 80LA.
30. In section 80LA of the Income-tax Act, with effect from the 1st day of April, 2022,—
(i) in sub-section (1A), for the words "any other relevant laws was obtained", the words "permission or registration under the International Financial Services Centre Authority Act, 2019 (50 of 2019) was obtained" shall be substituted;
(ii) in sub-section (2), after clause (c), the following clause shall be inserted, namely:—
'(d) arising from the transfer of an asset, being an aircraft, which was leased by a unit referred to in clause (c) to a person, subject to the condition that the unit has commenced operation on or before the 31st day of March, 2024.
Explanation.—For the purposes of this clause, "aircraft" shall have the meaning assigned to it in the Explanation to clause (4F) of section 10.';
(iii) in sub-section (3), for clause (ii), the following clause shall be substituted, namely:—
"(ii) a copy of the permission obtained under clause (a) of sub-section (1) of section 23 of the Banking Regulation Act, 1949 (10 of 1949) or copy of permission or registration obtained under the International Financial Services Centre Authority Act, 2019 (50 of 2019).".
Section 30, The Finance Act, 2021.

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

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s. First Schedule First Schedule

Questions about Section 30

What does Section 30 of the Finance Act deal with?

Section 30 of the Finance Act is headed "Amendment of section 80LA". Amendment of section 80LA. 30. In section 80LA of the Income-tax Act, with effect from the 1st day of April, 2022,— (i) | in sub-section (1A), for the words "any other relevant laws was obtained", the words "permission or registration under the International Financial Services Centre Authority Act,

How do I find court cases under Section 30 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 30, section 30 Finance Act 2021, section 30 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 30 of the Finance Act, and has it changed?

Its own text turns on section 10 (Amendment of section 43), Income-tax Act 80LA (Deductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre), 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 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

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(i)		in sub-section (1A), for the words "any other relevant laws was obtained", the words "permission or registration under the International Financial Services Centre Authority Act, 2019 (50 of 2019) was obtained" shall be substituted;
(ii)		in sub-section (2), after clause (c), the following clause shall be inserted, namely:—
		'(d) arising from the transfer of an asset, being an aircraft, which was leased by a unit referred to in clause (c) to a person, subject to the condition that the unit has commenced operation on or before the 31st day of March, 2024.
		Explanation.—For the purposes of this clause, "aircraft" shall have the meaning assigned to it in the Explanation to clause (4F) of section 10.';
(iii)		in sub-section (3), for clause (ii), the following clause shall be substituted, namely:—
		"(ii) a copy of the permission obtained under clause (a) of sub-section (1) of section 23 of the Banking Regulation Act, 1949 (10 of 1949) or copy of permission or registration obtained under the International Financial Services Centre Authority Act, 2019 (50 of 2019).".