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Section48
The Finance Act, 2026

Amendment of section 149

In force Act 4 of 2026 As on 06 Oct 2026

Act 4 of 2026 Ministry Finance

Section 48 of the Finance Act, 2026 deals with amendment of section 149. 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;

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.'.
Section 48, The Finance Act, 2026 (Act 4 of 2026).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. s. 149 Insertion of new section 56A
  2. Income-tax Act s. 149 Time limit for notices under sections 148 and 148A

Questions about Section 48

What does Section 48 of the Finance Act deal with?

Section 48 of the Finance Act is headed "Amendment of section 149". 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;

How do I find court cases under Section 48 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 2026 48, section 48 Finance Act 2026, section 48 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 48 of the Finance Act, and has it changed?

Its own text turns on section 149 (Insertion of new section 56A), Income-tax Act 149 (Time limit for notices under sections 148 and 148A), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 2026 as Act 4 of 2026. India Code records no commencement date for it. 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.