Amendment of section 79

In force Act 6 of 2022 As on 10 Oct 2026

Act 6 of 2022 Ministry Finance

Section 18 of the Finance Act, 2022 deals with amendment of section 79. Amendment of section 79. 18. In section 79 of the Income-tax Act,— (i) | in sub-section (2), after clause (e), the following clause shall be inserted, namely:— "(f) to an erstwhile public sector company subject to the condition that the ultimate holding company of such company, immediately after the

Amendment of section 79.
18. In section 79 of the Income-tax Act,—
(i) in sub-section (2), after clause (e), the following clause shall be inserted, namely:—
"(f) to an erstwhile public sector company subject to the condition that the ultimate holding company of such company, immediately after the completion of strategic disinvestment, continues to hold, directly or through its subsidiary or subsidiaries, at least fifty-one per cent. of the voting power of such company in aggregate.";
(ii) after sub-section (2), the following sub-section shall be inserted, namely:—
"(3) Notwithstanding anything contained in sub-section (2), if the condition specified in clause (f) of the said sub-section is not complied with in any previous year after the completion of strategic disinvestment, the provisions of sub-section (1) shall apply for such previous year and subsequent previous years.";
(iii) in the Explanation, after clause (i), the following clauses shall be inserted, namely:—
'(ia)"erstwhile public sector company" shall have the same meaning as assigned to it in clause (ii) of the Explanation to clause (d) of sub-section (1) of section 72A;
(ib) "strategic disinvestment" shall have the same meaning as assigned to it in clause (iii) of the Explanation to clause (d) of sub-section (1) of section 72A;'.
Section 18, 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.

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Questions about Section 18

What does Section 18 of the Finance Act deal with?

Section 18 of the Finance Act is headed "Amendment of section 79". Amendment of section 79. 18. In section 79 of the Income-tax Act,— (i) | in sub-section (2), after clause (e), the following clause shall be inserted, namely:— "(f) to an erstwhile public sector company subject to the condition that the ultimate holding company of such company, immediately after the

How do I find court cases under Section 18 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 18, section 18 Finance Act 2022, section 18 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 18 of the Finance Act, and has it changed?

Its own text turns on section 79 (Amendment of section 272A), Income-tax Act 79 (Carry forward and set off of losses in case of certain companies), 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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(i)		in sub-section (2), after clause (e), the following clause shall be inserted, namely:—
		"(f) to an erstwhile public sector company subject to the condition that the ultimate holding company of such company, immediately after the completion of strategic disinvestment, continues to hold, directly or through its subsidiary or subsidiaries, at least fifty-one per cent. of the voting power of such company in aggregate.";
(ii)		after sub-section (2), the following sub-section shall be inserted, namely:—
		"(3) Notwithstanding anything contained in sub-section (2), if the condition specified in clause (f) of the said sub-section is not complied with in any previous year after the completion of strategic disinvestment, the provisions of sub-section (1) shall apply for such previous year and subsequent previous years.";
(iii)		in the Explanation, after clause (i), the following clauses shall be inserted, namely:—
		'(ia)"erstwhile public sector company" shall have the same meaning as assigned to it in clause (ii) of the Explanation to clause (d) of sub-section (1) of section 72A;
		(ib) "strategic disinvestment" shall have the same meaning as assigned to it in clause (iii) of the Explanation to clause (d) of sub-section (1) of section 72A;'.