Amendment of section 94

In force Act 6 of 2022 As on 07 Oct 2026

Act 6 of 2022 Ministry Finance Cited by 2 provisions

Section 25 of the Finance Act, 2022 deals with amendment of section 94. Amendment of section 94. 25. In section 94 of the Income-tax Act, with effect from the 1st day of April, 2023,— (i) | in sub-section (8), for the word "units" wherever it occurs, the words "securities or units" shall be substituted;

Amendment of section 94.
25. In section 94 of the Income-tax Act, with effect from the 1st day of April, 2023,—
(i) in sub-section (8), for the word "units" wherever it occurs, the words "securities or units" shall be substituted;
(ii) in the Explanation,—
(a) for clause (aa), the following clause shall be substituted, namely:—
'(aa) "record date" means such date as may be fixed by—
(i) a company;
(ii) a Mutual Fund or the Administrator of the specified undertaking or the specified company referred to in the Explanation to clause (35) of section 10; or
(iii) a business trust defined in clause (13A) of section 2; or
(iv) an Alternative Investment Fund defined in clause (b) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, made under the Securities and Exchange Board of India Act, 1992 (15 of 1992),
for the purposes of entitlement of the holder of the securities or units, as the case may be, to receive dividend, income, or additional securities or units without any consideration, as the case may be,';
(b) for clause (d), the following clause shall be substituted, namely:—
'(d) "unit" shall mean,—
(i) a unit of a business trust defined in clause (13A) of section 2;
(ii) a unit defined in clause (b) of the Explanation to section 115AB; or
(iii) beneficial interest of an investor in an Alternative Investment Fund, defined in clause (b) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, made under the Securities and Exchange Board of India Act, 1992 (15 of 1992), and shall include shares or partnership interests.'.
Section 25, 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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Referred to by 2

Questions about Section 25

What does Section 25 of the Finance Act deal with?

Section 25 of the Finance Act is headed "Amendment of section 94". Amendment of section 94. 25. In section 94 of the Income-tax Act, with effect from the 1st day of April, 2023,— (i) | in sub-section (8), for the word "units" wherever it occurs, the words "securities or units" shall be substituted;

How do I find court cases under Section 25 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 25, section 25 Finance Act 2022, section 25 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 25 of the Finance Act, and has it changed?

Its own text turns on section 2 (Income-tax), section 10 (Amendment of section 17), section 94 (Insertion of new section 110AA), Income-tax Act 94 (Avoidance of tax by certain transactions in securities), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.

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 (8), for the word "units" wherever it occurs, the words "securities or units" shall be substituted;
(ii)		in the Explanation,—

(a)		for clause (aa), the following clause shall be substituted, namely:—
		'(aa) "record date" means such date as may be fixed by—

(i)		a company;
(ii)		a Mutual Fund or the Administrator of the specified undertaking or the specified company referred to in the Explanation to clause (35) of section 10; or
(iii)		a business trust defined in clause (13A) of section 2; or
(iv)		an Alternative Investment Fund defined in clause (b) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, made under the Securities and Exchange Board of India Act, 1992 (15 of 1992),

		for the purposes of entitlement of the holder of the securities or units, as the case may be, to receive dividend, income, or additional securities or units without any consideration, as the case may be,';
(b)		for clause (d), the following clause shall be substituted, namely:—
		'(d) "unit" shall mean,—

(i)		a unit of a business trust defined in clause (13A) of section 2;
(ii)		a unit defined in clause (b) of the Explanation to section 115AB; or
(iii)		beneficial interest of an investor in an Alternative Investment Fund, defined in clause (b) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, made under the Securities and Exchange Board of India Act, 1992 (15 of 1992), and shall include shares or partnership interests.'.