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Section58
The Finance Act, 2023

Amendment of section 115JD

In force Act 8 of 2023 As on 10 Oct 2026

Act 8 of 2023 Ministry Finance Cited by 1 provision

Section 58 of the Finance Act, 2023 deals with amendment of section 115JD. Amendment of section 115JD. 58. In section 115JD of the Income-tax Act, for sub-section (7), the following sub-section shall be substituted with effect from the 1st day of April, 2024, namely:— "(7) The provisions of this section shall not apply to a person, where— (i) | such person has exercised th

Amendment of section 115JD.

58. In section 115JD of the Income-tax Act, for sub-section (7), the following sub-section shall be substituted with effect from the 1st day of April, 2024, namely:—

"(7) The provisions of this section shall not apply to a person, where—

(i)such person has exercised the option referred to in sub-section (5) of section 115BAC or sub-section (5) of section 115BAD or sub-section (5) of section 115BAE; or
(ii)income-tax payable in respect of the total income of such person is computed under sub-section (1A) of section 115BAC.".
Section 58, The Finance Act, 2023 (Act 8 of 2023).

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. 115JD Tax credit for alternate minimum tax

Referred to by 1

  1. s. First Schedule First Schedule

Questions about Section 58

What does Section 58 of the Finance Act deal with?

Section 58 of the Finance Act is headed "Amendment of section 115JD". Amendment of section 115JD. 58. In section 115JD of the Income-tax Act, for sub-section (7), the following sub-section shall be substituted with effect from the 1st day of April, 2024, namely:— "(7) The provisions of this section shall not apply to a person, where— (i) | such person has exercised th

How do I find court cases under Section 58 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 58, section 58 Finance Act 2023, section 58 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 58 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 115JD (Tax credit for alternate minimum tax), so none of them can safely be read on its own. 1 other provision in this corpus refers 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

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.