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Section7
The Finance Act, 2024 (No. 2)

Amendment of section 12AB

In force As on 11 Oct 2026

Ministry Finance Enacted 16 Aug 2024 Cited by 1 provision

Section 7 of the Finance Act, 2024 (No. 2) deals with amendment of section 12AB. Amendment of section 12AB. 7. In section 12AB of the Income-tax Act, for sub-section (3), the following sub-section shall be substituted with effect from the 1st day of October, 2024, namely:— "(3) The order under sub-section (1) shall be passed, in such form and manner as may be prescribed, within The Act was enacted on 16 Aug 2024.

Amendment of section 12AB.

7. In section 12AB of the Income-tax Act, for sub-section (3), the following sub-section shall be substituted with effect from the 1st day of October, 2024, namely:—

"(3) The order under sub-section (1) shall be passed, in such form and manner as may be prescribed, within a period of,—

(i)three months calculated from the end of the month in which the application was received in case of clause (a);
(ii)six months calculated from the end of the quarter in which the application was received in case of sub-clause (ii) of clause (b); and
(iii)one month calculated from the end of the month in which the application was received in case of clause (c).".
Section 7, 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. 12AB Procedure for fresh registration

Referred to by 1

  1. s. 155 Amendment of section 7

Questions about Section 7

What does Section 7 of the Finance Act, 2024 (No. 2) deal with?

Section 7 of the Finance Act, 2024 (No. 2) is headed "Amendment of section 12AB". Amendment of section 12AB. 7. In section 12AB of the Income-tax Act, for sub-section (3), the following sub-section shall be substituted with effect from the 1st day of October, 2024, namely:— "(3) The order under sub-section (1) shall be passed, in such form and manner as may be prescribed, within

How do I find court cases under Section 7 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) 7, section 7 Finance Act, 2024 (No. 2), section 7 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 7 of the Finance Act, 2024 (No. 2), and has it changed?

Its own text turns on Income-tax Act 12AB (Procedure for fresh registration), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was Section 7 of the Finance Act, 2024 (No. 2) enacted?

Section 7 of the Finance Act, 2024 (No. 2), cited as Finance Act, 2024 (No. 2) 7, 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.