Amendment of section 54
Section 25 of the Finance Act, 2023 deals with amendment of section 54. Amendment of section 54. 25. In section 54 of the Income-tax Act, with effect from the 1st day of April, 2024,— (a) | in sub-section (1), after the second proviso, the following proviso shall be inserted, namely:— "Provided also that where the cost of new asset exceeds ten crore rupees, the amount e
Amendment of section 54.
25. In section 54 of the Income-tax Act, with effect from the 1st day of April, 2024,—
(a) in sub-section (1), after the second proviso, the following proviso shall be inserted, namely:— "Provided also that where the cost of new asset exceeds ten crore rupees, the amount exceeding ten crore rupees shall not be taken into account for the purposes of this sub-section."; (b) in sub-section (2),— Section 25, The Finance Act, 2023 (Act 8 of 2023).
(i) after the words "amount so deposited shall", the words, brackets and figure ", subject to the third proviso to sub-section (1)" shall be inserted; (ii) after the proviso, the following proviso shall be inserted, namely:— "Provided further that the capital gains in excess of ten crore rupees shall not be taken into account for the purposes of this sub-section.".
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
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 54". Amendment of section 54. 25. In section 54 of the Income-tax Act, with effect from the 1st day of April, 2024,— (a) | in sub-section (1), after the second proviso, the following proviso shall be inserted, namely:— "Provided also that where the cost of new asset exceeds ten crore rupees, the amount e
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 2023 25, section 25 Finance Act 2023, 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 54 (Insertion of new section 115BAE), Income-tax Act 54 (Profit on sale of property used for residence), 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 2023 as Act 8 of 2023. 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 Schedule10190 words
- 2. Income-tax8337 words
- Fourth Schedule. Fourth Schedule6615 words
- 5. Amendment of section 102717 words
- 150. Substitution of new section for section 1101621 words
- 54. Insertion of new section 115BAE1218 words
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.