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Section36
The Finance Act, 2024 (No. 2)

Amendment of section 115AD

In force As on 12 Oct 2026

Ministry Finance Enacted 16 Aug 2024 Cited by 2 provisions

Section 36 of the Finance Act, 2024 (No. 2) deals with amendment of section 115AD. Amendment of section 115AD. 36. In section 115AD of the Income-tax Act, in sub-section (1), with effect from the 23rd day of July, 2024,— (a) | in the longline, in clause (ii), for the proviso, the following proviso shall be substituted and shall be deemed to have been substituted, namely:— "Provide The Act was enacted on 16 Aug 2024.

Amendment of section 115AD.

36. In section 115AD of the Income-tax Act, in sub-section (1), with effect from the 23rd day of July, 2024,—

(a)in the longline, in clause (ii), for the proviso, the following proviso shall be substituted and shall be deemed to have been substituted, namely:—
"Provided that the amount of income-tax calculated on the income by way of short-term capital gains referred to in section 111A shall be at the rate of—
(A)fifteen per cent for any transfer which takes place before the 23rd day of July, 2024; and
(B)twenty per cent for any transfer which takes place on or after the 23rd day of July, 2024;";
(b)in clause (iii), for the proviso, the following provisos shall be substituted and shall be deemed to have been substituted, namely:—
"Provided that in case of income arising from the transfer of a long-term capital asset referred to in section 112A which exceeds one lakh and twenty-five thousand rupees, income-tax shall be calculated at the rate of—
(A)ten per cent where transfer of such asset takes place before the 23rd day of July, 2024; and
(B)twelve and one-half per cent where transfer of such asset takes place on or after the 23rd day of July, 2024:
Provided further that the limit of one lakh twenty-five thousand rupees mentioned in the first proviso shall apply on aggregate of the long-term capital gains referred to in clauses (A) and (B); and".
Section 36, The Finance Act, 2024 (No. 2).

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. 115AD Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer

Referred to by 2

  1. s. 12 Amendment of section 36
  2. s. First Schedule -

Questions about Section 36

What does Section 36 of the Finance Act, 2024 (No. 2) deal with?

Section 36 of the Finance Act, 2024 (No. 2) is headed "Amendment of section 115AD". Amendment of section 115AD. 36. In section 115AD of the Income-tax Act, in sub-section (1), with effect from the 23rd day of July, 2024,— (a) | in the longline, in clause (ii), for the proviso, the following proviso shall be substituted and shall be deemed to have been substituted, namely:— "Provide

How do I find court cases under Section 36 of the Finance Act, 2024 (No. 2)?

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, 2024 (No. 2) 36, section 36 Finance Act, 2024 (No. 2), section 36 of the Finance Act, 2024 (No. 2). 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 36 of the Finance Act, 2024 (No. 2), and has it changed?

Its own text turns on Income-tax Act 115AD (Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.

When was Section 36 of the Finance Act, 2024 (No. 2) enacted?

Section 36 of the Finance Act, 2024 (No. 2), cited as Finance Act, 2024 (No. 2) 36, was enacted on 16 Aug 2024. It is in force as at the date shown on this page.

Other sections of this Act

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