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Section8
The Finance Act, 2021

Amendment of section 32

In force As on 09 Oct 2026

Ministry Finance Cited by 3 provisions

Section 8 of the Finance Act, 2021 deals with amendment of section 32. Amendment of section 32. 8. In section 32 of the Income-tax Act, in sub-section (1),— (a) | in clause (ii), after the words, figures and letters, "after the 1st day of April, 1998,", the words "not being goodwill of a business or profession," shall be inserted;

Amendment of section 32.

8. In section 32 of the Income-tax Act, in sub-section (1),—

(a)in clause (ii), after the words, figures and letters, "after the 1st day of April, 1998,", the words "not being goodwill of a business or profession," shall be inserted;
(b)in Explanation 3, in clause (b), after the words "or commercial rights of similar nature", the words ", not being goodwill of a business or profession" shall be inserted.
Section 8, The Finance Act, 2021.

Cross-references

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

This section refers to

  1. s. 32 Amendment of section 112A
  2. Income-tax Act s. 32 Depreciation

Referred to by 3

  1. s. 74 Insertion of new Chapter XIX-AA
  2. s. 150 Amendment of Act 74 of 1956
  3. s. 156 Omission of sections 8 to 17

Questions about Section 8

What does Section 8 of the Finance Act deal with?

Section 8 of the Finance Act is headed "Amendment of section 32". Amendment of section 32. 8. In section 32 of the Income-tax Act, in sub-section (1),— (a) | in clause (ii), after the words, figures and letters, "after the 1st day of April, 1998,", the words "not being goodwill of a business or profession," shall be inserted;

How do I find court cases under Section 8 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 8, section 8 Finance Act 2021, section 8 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 8 of the Finance Act, and has it changed?

Its own text turns on section 32 (Amendment of section 112A), Income-tax Act 32 (Depreciation), 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

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.