Amendment of section 397
Section 87 of the Finance Act, 2026 deals with amendment of section 397. Amendment of section 397. 87. In section 397 of the Income-tax Act, in sub-section (1), for clause (c), the following clause shall be substituted with effect from the 1st October, 2026, namely:— "(c) the provisions of clause (a) shall not apply to— (i) | a person in respect of a transaction where he
Amendment of section 397.
87. In section 397 of the Income-tax Act, in sub-section (1), for clause (c), the following clause shall be substituted with effect from the 1st October, 2026, namely:—
"(c) the provisions of clause (a) shall not apply to—
Section 87, The Finance Act, 2026 (Act 4 of 2026).
(i) a person in respect of a transaction where he is required to deduct tax under section 393(1) [Table: Sl. No. 2(i), 3(i) or 6(ii)]; or (ii) a person referred to in section 393(4) [Table: Sl. No. 12.C(a)] in respect of a transaction where he is required to deduct tax on consideration for transfer of a virtual digital asset under section 393(1) [Table: Sl. No. 8(vi)]; or (iii) a resident individual or Hindu undivided family in respect of a transaction where he is required to deduct tax on any consideration for the transfer of any immovable property under section 393(2) [Table: Sl. No. 17]; or (iv) a person notified in this regard by the Central Government.".
Questions about Section 87
What does Section 87 of the Finance Act deal with?
Section 87 of the Finance Act is headed "Amendment of section 397". Amendment of section 397. 87. In section 397 of the Income-tax Act, in sub-section (1), for clause (c), the following clause shall be substituted with effect from the 1st October, 2026, namely:— "(c) the provisions of clause (a) shall not apply to— (i) | a person in respect of a transaction where he
How do I find court cases under Section 87 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 87, section 87 Finance Act 2026, section 87 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
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
- First Schedule. -11686 words
- 3. Income-tax under Act 30 of 20258033 words
- Fourth Schedule. -4078 words
- 2. Income-tax under Act 43 of 19612736 words
- 26. Substitution of new sections for sections 276B, 276BB, 276C, 276CC, 276CCC and 276D1437 words
- Fifth Schedule. -1363 words
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