# The Finance Act, 2026, Section 48: Amendment of section 149

- Act: The Finance Act, 2026 (Act 4 of 2026)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2026/section/48/

## Text

Amendment of section 149. 48. In section 149 of the Income-tax Act,— (a) | in sub-section (2),— (i) | in clause (b), after the word "oilseeds," wherever it occurs, the words "cotton seed, cattle feed," shall be inserted; (ii) | for clause (d), the following clause shall be substituted, namely:— "(d) in respect of any income derived by the co-operative society from its investments with any other co-operative society by way of— (i) | interest; or (ii) | dividends, the whole of such income;"; (b) | after sub-section (5), the following sub-section shall be inserted, namely:— '(6) For the purposes of this section,— (a) | "consumers' co-operative society" means a society for the benefit of the consumers; (b) | "primary agricultural credit society" has the same meaning as assigned to it in Part V of the Banking Regulation Act, 1949 (10 of 1949.); and (c) | "primary co-operative agricultural and rural development bank" means a society having an area of operation confined to a taluk, the principal object of which is to provide long-term credit for agricultural and rural development activities.'.

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