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Section49
The Finance Act, 2026

Substitution of new section for section 150

In force Act 4 of 2026 As on 10 Oct 2026

Act 4 of 2026 Ministry Finance Cited by 1 provision

Section 49 of the Finance Act, 2026 deals with substitution of new section for section 150. Substitution of new section for section 150.

Substitution of new section for section 150.

49. For section 150 of the Income-tax Act, the following section shall be substituted, namely:—

Deduction in respect of income of federal co-operative.

'150. (1) If the gross total income of an assessee being a federal co-operative, in any tax year, includes any income by way of dividends received from its investment with any company, a deduction shall be allowed from such income, to the extent of the amount which,—

(a)has arisen from such investment as recorded in its books of account on or before the 31st January, 2026; and
(b)has been distributed by it to its members at least one month before the due date for filing the return of income under section 263(1).

(2) The provisions of this section shall not apply to any tax year beginning on or after the 1st April, 2029.

(3) For the purposes of this section, "federal co-operative" means a "federal co-operative" as defined in section 3(k) of the Multi-State Co-operative Societies Act, 2002 (39 of 2002.) and notified as such by the Central Government.'.

Section 49, 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. 3 Income-tax under Act 30 of 2025
  2. s. 150 Substitution of new section for section 67

Referred to by 1

  1. s. 160 Amendment of Act 22 of 2015

Questions about Section 49

What does Section 49 of the Finance Act deal with?

Section 49 of the Finance Act is headed "Substitution of new section for section 150". Substitution of new section for section 150.

How do I find court cases under Section 49 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 49, section 49 Finance Act 2026, section 49 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 49 of the Finance Act, and has it changed?

Its own text turns on section 3 (Income-tax under Act 30 of 2025), section 150 (Substitution of new section for section 67), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

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.