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Section72
The Finance Act, 2025

Amendment of section 206C

In force Act 7 of 2025 As on 09 Oct 2026

Act 7 of 2025 Ministry Finance Enacted 16 Aug 2025 Cited by 1 provision

Section 72 of the Finance Act, 2025 deals with amendment of section 206C. Amendment of section 206C. 72. In section 206C of the Income-tax Act,— (a) | in sub-section (1),— (i) | in the Table,— (A) | against serial number (iii),— (I) | in column (2), for the word "Timber", the words and brackets "Timber or any other forest produce (not being tendu leaves)" shall be substit The Act was enacted on 16 Aug 2025.

Amendment of section 206C.

72. In section 206C of the Income-tax Act,—

(a)in sub-section (1),—
(i)in the Table,—
(A)against serial number (iii),—
(I)in column (2), for the word "Timber", the words and brackets "Timber or any other forest produce (not being tendu leaves)" shall be substituted;
(II)in column (3), for the words "two and one-half per cent.", the words "two per cent." shall be substituted;
(B)against serial number (iv), in column (3), for the words "two and one-half per cent.", the words "two per cent." shall be substituted;
(C)serial number (v) and the entries relating thereto shall be omitted;
(ii)after the proviso, the following Explanation shall be inserted, namely:—
'Explanation.—For the purposes of this sub-section, "forest produce" shall have the same meaning as defined in any State Act for the time being in force, or in the Indian Forest Act, 1927 (16 of 1927).';
(b)in sub-section (1G),—
(i)in the first, second and fourth provisos, for the words "seven lakh rupees" wherever they occur, the words "ten lakh rupees" shall be substituted;
(ii)for the third proviso, the following proviso shall be substituted, namely:—
"Provided also that the authorised dealer shall not collect the sum if the amount being remitted out is a loan obtained from any financial institution as defined in clause (b) of sub-section (3) of section 80E, for the purpose of pursuing any education:";
(c)in sub-section (1H), after the second proviso, the following proviso shall be inserted, namely:—
"Provided also that nothing contained in the provisions of this sub-section shall apply from the 1st day of April, 2025.";
(d)in sub-section (7A), the following proviso shall be inserted, with effect from the 1st April, 2025, namely:—
"Provided that the provisions of sub-sections (3), (5) and (6) of section 153 and Explanation 1 thereof shall, so far as may be, apply to the time limit specified in this sub-section.";
(e)in sub-section (9), for the words, brackets, figures and letters ", sub-section (1C) or sub-section (1H)" at both the places where they occur, the words, brackets, figure and letter "or sub-section (1C)" shall be substituted;
(f)in sub-section (10A), for the brackets, figures, letters and word "(1C), (1F) or (1H)", the brackets, figures, letters and word "(1C) or (1F)" shall be substituted.
Section 72, The Finance Act, 2025 (Act 7 of 2025).

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. 206C Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc

Referred to by 1

  1. s. 11 Insertion of new section 44BBD

Questions about Section 72

What does Section 72 of the Finance Act deal with?

Section 72 of the Finance Act is headed "Amendment of section 206C". Amendment of section 206C. 72. In section 206C of the Income-tax Act,— (a) | in sub-section (1),— (i) | in the Table,— (A) | against serial number (iii),— (I) | in column (2), for the word "Timber", the words and brackets "Timber or any other forest produce (not being tendu leaves)" shall be substit

How do I find court cases under Section 72 of the Finance Act?

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 2025 72, section 72 Finance Act 2025, section 72 of the Finance Act. 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 72 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 206C (Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was Section 72 of the Finance Act enacted?

Section 72 of the Finance Act, cited as Finance Act 2025 72, was enacted on 16 Aug 2025 as Act 7 of 2025. It is in force as at the date shown on this page.

Other sections of this Act

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