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Section87
The Finance Act, 2024 (No. 2)

Amendment of First Schedule

In force As on 11 Oct 2026

Ministry Finance Enacted 16 Aug 2024 Cited by 1 provision

Section 87 of the Finance Act, 2024 (No. 2) deals with amendment of First Schedule. Amendment of First Schedule. 87. In the First Schedule to the Income-tax Act, in rule 2, the following proviso shall be inserted with effect from the 1st day of April, 2025, namely:— "Provided that any expenditure which is not admissible under section 37 in computing the profits and gains of a busin The Act was enacted on 16 Aug 2024.

Amendment of First Schedule.

87. In the First Schedule to the Income-tax Act, in rule 2, the following proviso shall be inserted with effect from the 1st day of April, 2025, namely:—

"Provided that any expenditure which is not admissible under section 37 in computing the profits and gains of a business, shall be included to the profits and gains of life insurance business.".

Section 87, 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. 37 Amendment of section 115BAC

Referred to by 1

  1. s. 1 Short title and commencement

Questions about Section 87

What does Section 87 of the Finance Act, 2024 (No. 2) deal with?

Section 87 of the Finance Act, 2024 (No. 2) is headed "Amendment of First Schedule". Amendment of First Schedule. 87. In the First Schedule to the Income-tax Act, in rule 2, the following proviso shall be inserted with effect from the 1st day of April, 2025, namely:— "Provided that any expenditure which is not admissible under section 37 in computing the profits and gains of a busin

How do I find court cases under Section 87 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) 87, section 87 Finance Act, 2024 (No. 2), section 87 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 87 of the Finance Act, 2024 (No. 2), and has it changed?

Its own text turns on section 37 (Amendment of section 115BAC), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was Section 87 of the Finance Act, 2024 (No. 2) enacted?

Section 87 of the Finance Act, 2024 (No. 2), cited as Finance Act, 2024 (No. 2) 87, 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.