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Section63
The Finance Act, 2024 (No. 2)

Amendment of section 196B

In force As on 11 Oct 2026

Ministry Finance Enacted 16 Aug 2024 Cited by 1 provision

Section 63 of the Finance Act, 2024 (No. 2) deals with amendment of section 196B. Amendment of section 196B. 63. In section 196B of the Income-tax Act, for the words "at the rate of ten per cent", the following shall be substituted and shall be deemed to have been substituted with effect from the 23rd day of July, 2024, namely:— "at the rate of— (a) | ten per cent in respect of i The Act was enacted on 16 Aug 2024.

Amendment of section 196B.

63. In section 196B of the Income-tax Act, for the words "at the rate of ten per cent", the following shall be substituted and shall be deemed to have been substituted with effect from the 23rd day of July, 2024, namely:—

"at the rate of—

(a)ten per cent in respect of income from units referred to in clause (i) of sub-section (1) of section 115AB;
(b)ten per cent in respect of long-term capital gains arising from transfer of units referred to in section 115AB, which takes place before the 23rd day of July, 2024;
(c)twelve and one-half per cent in respect of long-term capital gains arising from transfer of units referred to in section 115AB, which takes place on or after the 23rd day of July, 2024.".
Section 63, 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. 196B Income from units

Referred to by 1

  1. s. 131 Amendment of section 63

Questions about Section 63

What does Section 63 of the Finance Act, 2024 (No. 2) deal with?

Section 63 of the Finance Act, 2024 (No. 2) is headed "Amendment of section 196B". Amendment of section 196B. 63. In section 196B of the Income-tax Act, for the words "at the rate of ten per cent", the following shall be substituted and shall be deemed to have been substituted with effect from the 23rd day of July, 2024, namely:— "at the rate of— (a) | ten per cent in respect of i

How do I find court cases under Section 63 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) 63, section 63 Finance Act, 2024 (No. 2), section 63 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 63 of the Finance Act, 2024 (No. 2), and has it changed?

Its own text turns on Income-tax Act 196B (Income from units), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was Section 63 of the Finance Act, 2024 (No. 2) enacted?

Section 63 of the Finance Act, 2024 (No. 2), cited as Finance Act, 2024 (No. 2) 63, 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.