Amendment of section 50
Section 15 of the Finance Act, 2022 deals with amendment of section 50. Amendment of section 50. 15. In section 50 of the Income-tax Act, after the proviso, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2021, namely:— "Explanation.—For the purposes of this section, reduction of the amount of
Amendment of section 50.
15. In section 50 of the Income-tax Act, after the proviso, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2021, namely:—
"Explanation.—For the purposes of this section, reduction of the amount of goodwill of a business or profession, from the block of asset in accordance with sub-item (B) of item (ii) of sub-clause (c) of clause (6) of section 43 shall be deemed to be transfer.".
Section 15, The Finance Act, 2022 (Act 6 of 2022).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 15
What does Section 15 of the Finance Act deal with?
Section 15 of the Finance Act is headed "Amendment of section 50". Amendment of section 50. 15. In section 50 of the Income-tax Act, after the proviso, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2021, namely:— "Explanation.—For the purposes of this section, reduction of the amount of
How do I find court cases under Section 15 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 2022 15, section 15 Finance Act 2022, section 15 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 15 of the Finance Act, and has it changed?
Its own text turns on section 43 (Amendment of section 144C), section 50 (Amendment of section 155), Income-tax Act 50 (Special provision for computation of capital gains in case of depreciable assets), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2022 as Act 6 of 2022. 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
- First Schedule. First Schedule9792 words
- 2. Income-tax6839 words
- 42. Amendment of section 144B3753 words
- 4. Amendment of section 103713 words
- 39. Insertion of new section 140B1269 words
- 31. Amendment of section 115TD965 words
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