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Section48
The Finance Act, 2024 (No. 2)

Amendment of section 153

In force As on 05 Oct 2026

Ministry Finance Enacted 16 Aug 2024 Cited by 3 provisions

Section 48 of the Finance Act, 2024 (No. 2) deals with amendment of section 153. Amendment of section 153. 48. In section 153 of the Income-tax Act, with effect from the 1st day of October, 2024,— (I) | after sub-section (1A), the following sub-section shall be inserted, namely:— "(1B) Notwithstanding anything in sub-section (1), where a return is furnished in consequence of an The Act was enacted on 16 Aug 2024.

Amendment of section 153.

48. In section 153 of the Income-tax Act, with effect from the 1st day of October, 2024,—

(I)after sub-section (1A), the following sub-section shall be inserted, namely:—
"(1B) Notwithstanding anything in sub-section (1), where a return is furnished in consequence of an order under clause (b) of sub-section (2) of section 119, an order of assessment under section 143 or section 144 may be made at any time before the expiry of twelve months from the end of the financial year in which such return was furnished.";
(II)in sub-section (3), for the words and figures "order under section 254" wherever they occur, the words and figures "order under section 250 or section 254" shall be substituted;
(III)in sub-section (8),—
(i)for the word, figures and letter "section 153B" at both the places where they occur, the words, figures and letters "section 153B or section 158BE" shall be substituted;
(ii)for the words, brackets, figures and letter "revived under sub-section (2) of section 153A", the words, brackets, figures and letters "revived under sub-section (2) of section 153A or sub-section (5) of section 158BA" shall be substituted;
(IV)in Explanation 1, after the fifth proviso, the following proviso shall be inserted, namely:—
"Provided also that where after exclusion of the period referred to in clause (xii), the period of limitation for making an order of assessment, reassessment or recomputation, as the case may be, ends before the end of the month, such period shall be extended to the end of such month.".
Section 48, 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. s. 119 Amendment of section 17
  2. s. 143 Amendment of section 112
  3. s. 144 Amendment of section 122
  4. s. 153 Amendment of section 16
  5. Income-tax Act s. 153 Time limit for completion of assessment, reassessment and recomputation

Referred to by 3

  1. s. 20 Amendment of section 48
  2. s. 21 Amendment of section 50AA
  3. s. 30 Amendment of section 112

Questions about Section 48

What does Section 48 of the Finance Act, 2024 (No. 2) deal with?

Section 48 of the Finance Act, 2024 (No. 2) is headed "Amendment of section 153". Amendment of section 153. 48. In section 153 of the Income-tax Act, with effect from the 1st day of October, 2024,— (I) | after sub-section (1A), the following sub-section shall be inserted, namely:— "(1B) Notwithstanding anything in sub-section (1), where a return is furnished in consequence of an

How do I find court cases under Section 48 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) 48, section 48 Finance Act, 2024 (No. 2), section 48 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 48 of the Finance Act, 2024 (No. 2), and has it changed?

Its own text turns on section 119 (Amendment of section 17), section 143 (Amendment of section 112), section 144 (Amendment of section 122), section 153 (Amendment of section 16), and on 1 further provision, so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it.

When was Section 48 of the Finance Act, 2024 (No. 2) enacted?

Section 48 of the Finance Act, 2024 (No. 2), cited as Finance Act, 2024 (No. 2) 48, was enacted on 16 Aug 2024. 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.