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Section49
The Finance Act, 2022

Amendment of section 153B

In force Act 6 of 2022 As on 07 Oct 2026

Act 6 of 2022 Ministry Finance Cited by 2 provisions

Section 49 of the Finance Act, 2022 deals with amendment of section 153B. Amendment of section 153B. 49. In section 153B of the Income-tax Act,— (a) | in sub-section (1), after the fifth proviso, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2021, namely:— "Provided also that in a case where the la

Amendment of section 153B.

49. In section 153B of the Income-tax Act,—

(a)in sub-section (1), after the fifth proviso, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2021, namely:—
"Provided also that in a case where the last of the authorisations for search under section 132 or requisition under section 132A was executed during the financial year commencing on the 1st day of April, 2020 or in case of other person referred to in section 153C, the books of account or document or assets seized or requisitioned were handed over under section 153C to the Assessing Officer having jurisdiction over such other person during the financial year commencing on the 1st day of April, 2020, the assessment in such cases for the assessment year commencing on the 1st day of April, 2021 shall be made on or before the 30th day of September, 2022.";
(b)after sub-section (3), the following sub-section shall be inserted, namely:—
"(4) Nothing contained in this section shall apply to any search initiated under section 132 or requisition made under section 132A on or after the 1st day of April, 2021.";
(c)in the Explanation,—
(i)in clause (x), for the words "Assessing Officer,", the words "Assessing Officer; or" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 2021;
(ii)after clause (x), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2021, namely:—
"(xi)the period (not exceeding one hundred and eighty days) commencing from the date on which a search is initiated under section 132 or a requisition is made under section 132A and ending on the date on which the books of account, or other documents or money or bullion or jewellery or other valuable article or thing seized under section 132 or requisitioned under section 132A, as the case may be, are handed over to the Assessing Officer having jurisdiction over the assessee, in whose case such search is initiated under section 132 or such requisition is made under section 132A, as the case may be,".
Section 49, 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.

This section refers to

  1. Income-tax Act s. 153B Time limit for completion of assessment under section 153A

Referred to by 2

  1. s. 104 Substitution of new section for section 38
  2. s. 110 Amendment of section 49

Questions about Section 49

What does Section 49 of the Finance Act deal with?

Section 49 of the Finance Act is headed "Amendment of section 153B". Amendment of section 153B. 49. In section 153B of the Income-tax Act,— (a) | in sub-section (1), after the fifth proviso, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2021, namely:— "Provided also that in a case where the la

How do I find court cases under Section 49 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 49, section 49 Finance Act 2022, section 49 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 49 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 153B (Time limit for completion of assessment under section 153A), 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

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.