9911796707
TMI BlogIncomes not included in total income [Clause (23D) to Clause (50)]X X X X Extracts X X X X X X X X Extracts X X X X ..... quisition and Transfer of Undertakings) Act, 1980 (40 of 1980) 69 [ and a bank included in the category 'other public sector banks' by the Reserve Bank of India ] ; (b) the expression public financial institution shall have the meaning assigned to it in section 4A of the Companies Act, 1956 (1 of 1956); ] 5 [ (c) the expression Securities and Exchange Board of India shall have the meaning assigned to it in clause (a) of sub-section (1) of section 2 of the Securities and Exchange Board of India Act, 1992 (15 of 1992); ] 75 [(23DA) any income of a securitisation trust from the activity of securitisation. Explanation.-For the purposes of this clause,- (a) securitisation shall have the same meaning as assigned to it,- (i) in clause (r) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Public Offer and Listing of Securitised Debt Instruments) Regulations, 2008 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992) and the Securities Contracts (Regulation) Act, 1956 (42 of 1956); or 91 [ (ia) in clause (z) of sub-section (1) of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hared and shall, accordingly, be chargeable to income-tax. Explanation.-For the purposes of this clause,- (i) depository shall have the same meaning as assigned to it in clause (e) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996); (ii) regulations means the regulations made under the Securities and Exchange Board of India Act, 1992 (15 of 1992) and the Depositories Act, 1996 (22 of 1996) ] 85 [(23EE) any specified income of such Core Settlement Guarantee Fund, set up by a recognised clearing corporation in accordance with the regulations, as the Central Government may, by notification in the Official Gazette, specify in this behalf: Provided that where any amount standing to the credit of the Fund and not charged to income-tax during any previous year is shared, either wholly or in part with the specified person, the whole of the amount so shared shall be deemed to be the income of the previous year in which such amount is so shared and shall, accordingly, be chargeable to income-tax. Explanation.-For the purposes of this clause,- (i) recognised clearing corporation shall have the same meaning as assigned to it in clause (o) of sub-regulation (1) of regula ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the 31st day of March, 1999. ] 13 [ * * * ] 14 [ * * * ] Explanation .-For the purposes of this clause,- (a) venture capital fund means such fund, operating under a trust deed registered under the provisions of the Registration Act, 1908 (16 of 1908), established to raise monies by the trustees for investments mainly by way of acquiring equity shares of a venture capital undertaking in accordance with the prescribed guidelines; (b) venture capital company means such company as has made investments by way of acquiring equity shares of venture capital undertakings in accordance with the prescribed guidelines; 15 [ (c) venture capital undertaking means such domestic company whose shares are not listed in a recognised stock exchange in India and which is engaged in the business of generation or generation and distribution of electricity or any other form of power or engaged in the business of providing telecommunication services or in the business of developing, maintaining and operating any infrastructure facility or engaged in the manufacture or production of such articles or things (including computer software) as may be notified by the Central Government in this behalf; and (d) inf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n approved by the Department of Science and Technology ;] 19 [(23FB) any income of a venture capital company or venture capital fund 20 [ set up to raise funds for investment ] in a venture capital undertaking. 86 [Provided that nothing contained in this clause shall apply in respect of any income of a venture capital company or venture capital fund, being an investment fund specified in clause (a) of the Explanation 1 to section 115UB, of the previous year relevant to the assessment year beginning on or after the 1st day of April, 2016;] 77 [Explanation.-For the purposes of this clause,- (a) venture capital company means a company which- (A) has been granted a certificate of registration, before the 21st day of May, 2012, as a Venture Capital Fund and is regulated under the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996 (hereinafter referred to as the Venture Capital Funds Regulations) made under the Securities and Exchange Board of India Act, 1992 (15 of 1992); or (B) has been granted a certificate of registration as Venture Capital Fund as a sub-category of Category I Alternative Investment Fund and is regulated under the Securities and Exchange ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al undertaking means- (i) a venture capital undertaking as defined in clause (n) of regulation 2 of the Venture Capital Funds Regulations; or (ii) a venture capital undertaking as defined in clause (aa) of sub-regulation (1) of regulation 2 of the Alternative Investment Funds Regulations] 87 [(23FBA) any income of an investment fund other than the income chargeable under the head Profits and gains of business or profession ; (23FBB) any income referred to in section 115UB, accruing or arising to, or received by, a unit holder of an investment fund, being that proportion of income which is of the same nature as income chargeable under the head Profits and gains of business or profession . Explanation.-For the purposes of clauses (23FBA) and (23FBB), the expression investment fund shall have the meaning assigned to it in clause (a) of the Explanation 1 to section 115UB; ] 118 [ (23FBC) any income accruing or arising to, or received by, a unit holder from a specified fund or on transfer of units in a specified fund. Explanation.-For the purposes of this clause, the expressions- (a) specified fund shall have the same meaning as assigned to it in clause (c) of the Explanation to clause ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... siness as the Central Government may, by notification in the Official Gazette, specify in this behalf; or (c) a Category-I or Category-II Alternative Investment Fund regulated under the Securities and Exchange Board of India (Alternative Investment Fund) Regulations, 2012 made under the Securities and Exchange Board of India Act, 1992,(15 of 1992.) having 122 [ not less than fifty per cent. ] investment in one or more of the company or enterprise or entity referred to in item (b) 123 [ or item (d) or item (e) or in an Infrastructure Investment Trust referred to in sub-clause (i) of clause (13A) of section 2; or ] : 124 [ (d) a domestic company, set up and registered on or after the 1st day of April, 2021, having minimum seventy-five per cent. investments in one or more of the companies or enterprises or entities referred to in item (b); or (e) a non-banking financial company registered as an Infrastructure Finance Company as referred to in notification number RBI/2009-10/316 issued by the Reserve Bank of India or in an Infrastructure Debt Fund, a non-banking finance company, as referred to in the Infrastructure Debt Fund-Non-Banking Financial Companies (Reserve Bank) Directions, 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (b) of the said sub-clause, in such manner as may be prescribed: Provided also that in case a non-banking finance company registered as an Infrastructure Finance Company or Infrastructure Debt Fund, referred to in item (e) of sub-clause (iii), has lending of less than one hundred per cent. in one or more of the companies or enterprises or entities referred to in item (b) of the said sub-clause, income accrued or arisen or received or attributable to such lending, directly or indirectly, which is exempt under this clause shall be calculated proportionately to the lending made in one or more of the companies or enterprises or entities referred to in item (b) of the said sub-clause, in such manner as may be prescribed: Provided also that in case a sovereign wealth fund or pension fund has loans or borrowings, directly or indirectly, for the purposes of making investment in India, such fund shall be deemed to be not eligible for exemption under this clause. ] 126 [Explanation 1] .-For the purposes of this clause, specified person means (a) a wholly owned subsidiary of the Abu Dhabi Investment Authority which (i) is a resident of the United Arab Emirates; and (ii) makes investment, dir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y, or an enterprise, or an entity, or a Category I or Category II Alternative Investment Fund, or an Infrastructure Investment Trust or a domestic company, or an Infrastructure Finance Company or an Infrastructure Debt Fund referred to in item (e) of sub-clause (iii), in which the sovereign wealth fund or the pension fund, as the case may be, has made the investment, directly or indirectly, under the provisions of this clause; (ii) loan and borrowing means- (a) any loan taken or borrowing by a sovereign wealth fund from, or any deposit or investment made in a sovereign wealth fund by, any person other than the Government of the country in which the sovereign wealth fund is set up; (b) any loan taken or borrowing by a pension fund from or any deposit or investment made in a pension fund by, any person but shall not include the deposit or investment which represents statutory obligations and defined contributions of one or more funds or plans established for providing retirement, social security, employment, disability, death benefits or any similar compensation to the participants or beneficiaries of such funds or plans, as the case may be. Explanation 3 . For the purposes of this c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... linked Insurance Fund established under section 3G of that Act; or (b) by the Board of Trustees constituted under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), on behalf of the Deposit-linked Insurance Fund established under section 6C of that Act; ] 29 [(25A) any income of the Employees' State Insurance Fund set up under the provisions of the Employees' State Insurance Act, 1948 (34 of 1948); ] 30 [(26) in the case of a member of a Scheduled Tribe as defined in clause (25) of article 366 of the Constitution, residing in any area specified in Part I or Part II of the Table appended to paragraph 20 of the Sixth Schedule to the Constitution or in the 31 [ States of Arunachal Pradesh, Manipur, Mizoram, Nagaland and Tripura ] or in the areas covered by notification No. TAD/R/35/50/109, dated the 23rd February, 1951, issued by the Governor of Assam under the proviso to sub-paragraph (3) of the said paragraph 20 [ as it stood immediately before the commencement of the North-Eastern Areas (Reorganisation) Act, 1971 (81 of 1971) ] 32 [ or in the Ladakh region of the State of Jammu and Kashmir ] , any income which accrues or arises to him,- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (a) Scheduled Castes and Scheduled Tribes shall have the meanings respectively assigned to them in clauses (24) and (25) of article 366 of the Constitution; (b) backward classes means such classes of citizens, other than the Scheduled Castes and the Scheduled Tribes, as may be notified- (i) by the Central Government; or (ii) by any State Government, as the case may be, from time to time; ] 43 [(26BB) any income of a corporation established by the Central Government or any State Government for promoting the interests of the members of a minority community. Explanation .-For the purposes of this clause, minority community means a community notified as such by the Central Government in the Official Gazette in this behalf ;] 44 [(26BBB) any income of a corporation established by a Central, State or Provincial Act for the welfare and economic upliftment of ex-servicemen being the citizens of India. Explanation .-For the purposes of this clause, ex-serviceman means a person who has served in any rank, whether as combatant or non-combatant, in the armed forces of the Union or armed forces of the Indian States before the commencement of the Constitution (but excluding the Assam Rifles, Def ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which such Authority was constituted, whichever is later; (f) the Agricultural and Processed Food Products Export Development Authority established under section 4 of the Agricultural and Processed Food Products Export Development Act, 1985 (2 of 1986) in any previous year relevant to any assessment year commencing on or after the 1st day of April, 1985 or the previous year in which such Authority was constituted, whichever is later; (g) the Spices Board constituted under sub-section (1) of section 3 of the Spices Board Act, 1986 (10 of 1986) in any previous year relevant to any assessment year commencing on or after the 1st day of April, 1986 or the previous year in which such Board was constituted, whichever is later; ] 65 [(h) the Coir Board established under section 4 of the Coir Industry Act, 1953 (45 of 1953);] 49 [(30) in the case of an assessee who carries on the business of growing and manufacturing tea in India, the amount of any subsidy received from or through the Tea Board under any such scheme for replantation or replacement of tea bushes 50 [ or for rejuvenation or consolidation of areas used for cultivation of tea ] as the Central Government may, by notification in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5 [(33) any income arising from the transfer of a capital asset, being a unit of the Unit Scheme, 1964 referred to in Schedule I to the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002)and where the transfer of such asset takes place on or after the 1st day of April, 2002 ;] 56 [(34) any income by way of dividends referred to in section 115-O. 95 [ Provided that nothing in this clause shall apply to any income by way of dividend chargeable to tax in accordance with the provisions of section 115BBDA; ] 113 [Provided further that nothing contained in this clause shall apply to any income by way of dividend received on or after the 1st day of April, 2020 other than the dividend on which tax under section 115-O and section 115BBDA, wherever applicable, has been paid; ] 71 [***] 78 [ (34A) any income arising to an assessee, being a shareholder, on account of buy back of shares 108 [****] by the company as referred to in section 115QA] 153 [Provided tha t this clause shall not apply with respect to any buy back of shares by a company on or after the 1st day of October, 2024. ] 141 [ (34B) any income of a unit of any International Financial Services Centre, p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tuent of BSE-500 Index of the Stock Exchange, Mumbai as on the 1st day of March, 2003 and the transactions of purchase and sale of such equity share are entered into on a recognised stock exchange in India; (ii) any equity share in a company allotted through a public issue on or after the 1st day of March, 2003 and listed in a recognised stock exchange in India before the 1st day of March, 2004 and the transaction of sale of such share is entered into on a recognised stock exchange in India ;] 58 [(37) in the case of an assessee, being an individual or a Hindu undivided family, any income chargeable under the head Capital gains arising from the transfer of agricultural land, where- (i) such land is situate in any area referred to in item (a) or item (b) of sub-clause (iii) of clause (14) of section 2; (ii) such land, during the period of two years immediately preceding the date of transfer, was being used for agricultural purposes by such Hindu undivided family or individual or a parent of his; (iii) such transfer is by way of compulsory acquisition under any law, or a transfer the consideration for which is determined or approved by the Central Government or the Reserve Bank of In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... **] 98 [Provided also that nothing contained in sub-clause (b) shall apply to a transaction undertaken on a recognised stock exchange located in any International Financial Services Centre and where the consideration for such transaction is paid or payable in foreign currency ] 103 [Provided also that nothing contained in this clause shall apply to any income arising from the transfer of a long-term capital asset, being an equity share in a company, if the transaction of acquisition, other than the acquisition notified by the Central Government in this behalf, of such equity share is entered into on or after the 1st day of October, 2004 and such transaction is not chargeable to securities transaction tax under Chapter VII of the Finance (No. 2) Act, 2004. ; (23 of 2004.) ] 105 [Provided also that nothing contained in this clause shall apply to any income arising from the transfer of long-term capital asset, being an equity share in a company or a unit of an equity oriented fund or a unit of a business trust, made on or after the 1st day of April, 2018.] 99 [ Explanation .-For the purposes of this clause,- (a) equity oriented fund means a fund- (i) where the investible funds are inv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s notified by the Central Government in the Official Gazette for the purposes of this clause. Explanation .-For the purposes of this clause, specified income means the income, of the nature and to the extent, arising to the body or authority referred to in this clause, which the Central Government may notify in this behalf .] 66 [ (43) any amount received by an individual as a loan, either in lump sum or in instalment, in a transaction of reverse mortgage referred to in clause (xvi) of section 47.] 70 [(44) any income received by any person for, or on behalf of, the New Pension System Trust established on the 27th day of February, 2008 under the provisions of the Indian Trusts Act, 1882.(2 of 1882) ] (45) 115 [****] 73 [ (46) any specified income arising to a body or authority or Board or Trust or Commission (by whatever name called) 143 [ other than those covered under clause (46A), or a class thereof ] which- (a) has been established or constituted by or under a Central, State or Provincial Act, or constituted by the Central Government or a State Government, with the object of regulating or administering any activity for the benefit of the general public; (b) is not engaged in an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his behalf, to any person] in India: Provided that- (i) receipt of such income in India by the foreign company is pursuant to an agreement or an arrangement entered into by the Central Government or approved by the Central Government; (ii) having regard to the national interest, the foreign company and the agreement or arrangement are notified by the Central Government in this behalf; and (iii) the foreign company is not engaged in any activity, other than receipt of such income, in India. ] 100 [(48A) any income accruing or arising to a foreign company on account of storage of crude oil in a facility in India and sale of crude oil therefrom to any person resident in India: Provided that - (i) the storage and sale by the foreign company is pursuant to an agreement or an arrangement entered into by the Central Government or approved by the Central Government; and (ii) having regard to the national interest, the foreign company and the agreement or arrangement are notified by the Central Government in this behalf;] 104 [ (48B) any income accruing or arising to a foreign company on account of sale of leftover stock of crude oil, if any, from the facility in India after the expiry of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lisation levy under that Chapter. ] 136 [ Explanation 1. For the removal of doubts it is hereby clarified that the income referred to in this clause shall not include and shall be deemed never to have been included any income which is chargeable to tax as royalty or fees for technical services in India under this Act read with the agreement notified by the Central Government under section 90 or section 90A. Explanation 2.-For the purposes of this clause, (i) e-commerce supply or services shall have the meaning assigned to it in clause (cb) of section 164 of the Finance Act, 2016 (28 of 2016.); (ii) specified service shall have the meaning assigned to it in clause (i) of section 164 of the Finance Act, 2016 (28 of 2016.). ] ] ************************** Notes :- 1. Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. 2. Substituted for the portion beginning with the words any income of such Mutual Fund and ending with the words specify in this behalf by the Finance Act, 1995, w.e.f. 1-7-1995. Prior to substitution, the said portion, as amended by the Finance Act, 1988, w.e.f. 1-4-1988, the Direct Tax Laws (Amendment) Act, 1989, w.r.e.f. 1-4-1988 and the Finance Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... company to any person at any time within a period of three years from the date of their acquisition, the aggregate amount of income by way of dividends on such equity shares which has not been included in the total income of the previous year or years preceding the previous year in which such transfer has taken place shall be deemed to be the income of the venture capital fund or of the venture capital company of the previous year in which such transfer has taken place: Provided also that the exemption shall not be allowed in respect of the long-term capital gains, if any, arising on such transfer of equity shares as is mentioned in the third proviso. 14. Third and fourth provisos omitted by the Finance (No. 2) Act, 1998, w.e.f. 1-4-1999. Prior to their omission, the third and fourth provisos, as inserted by the Finance Act, 1995, w.e.f. 1-4-1996, read as under : Provided also that if the aforesaid equity shares are transferred (other than in the event of the said shares being listed in a recognised stock exchange in India) by a venture capital fund or a venture capital company to any person at any time within a period of three years from the date of their acquisition, the aggregat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pecified, with the approval of the Central Government, by the Securities and Exchange Board of India, by notification in the Official Gazette, in this behalf.' 24. Omitted by the Finance (No. 2) Act, 2004, w.e.f. 1-10-2004. Prior to its omission, Explanation 2, as inserted by the Finance Act, 2001, w.e.f. 1-4-2001, read as under : Explanation 2.- For the removal of doubts it is hereby declared that the income of a venture capital company or venture capital fund shall continue to be exempt if the shares of the venture capital undertaking, in which the venture capital company or venture capital fund has made the initial investment, are subsequently listed in a recognised stock exchange in India; 25. Omitted by the Finance Act, 2006, w.e.f. 1-4-2007 ; Prior to its omission, clause (23G), as inserted by the Finance (No. 2) Act, 1996, w.e.f. 1-4-1997 and later on amended by the Finance Act, 1997, w.e.f. 1-4-1998, substituted by the Finance (No. 2) Act, 1998, w.e.f. 1-4-1999 and further amended by the Income-tax (Second Amendment) Act, 1998, w.e.f. 1-4-1999, Finance Act, 1999, w.e.f. 1-4-2000, Finance Act, 2000, w.e.f. 1-4-2000/1-4-2001, Finance Act, 2001, w.e.f. 1-4-2002, Finance Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roject for constructing a hotel of not less than three-star category as classified by the Central Government; (h) hospital project means a project for constructing a hospital with at least one hundred beds for patients. Explanation 2.- For the removal of doubts, it is hereby declared that any income by way of dividends, interest or long-term capital gains of an infrastructure capital fund or an infrastructure capital company from investments made before the 1st day of June, 1998 by way of shares or long-term finance in any enterprise carrying on the business of developing, maintaining and operating any infrastructure facility shall not be included and the provisions of this clause as it stood immediately before its amendment by the Finance (No. 2) Act, 1998 (21 of 1998) shall apply to such income;' 26. Substituted by the Finance (No. 2) Act, 1996, w.e.f. 1-4-1997. Prior to its substitution, clause (24), as amended by the Finance Act, 1988, w.e.f. 1-4-1989, read as under : '(24) any income chargeable under the heads Income from house property and Income from other sources of a registered union within the meaning of the Indian Trade Unions Act, 1926 (16 of 1926), formed prima ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent in the State of Sikkim if he fulfils the requirements of clause (1) or clause (2) or clause (3) or clause (4) of section 6, as the case may be, subject to the modifications that- (i) references in those clauses to India shall be construed as references to the State of Sikkim; and (ii) in sub-clause (i) of clause (3), reference to Indian company shall be construed as reference to a company formed and registered under any law for the time being in force in the State of Sikkim and having its registered office in that State in that year; 40. Inserted by the Finance Act, 1980, w.r.e.f. 1-4-1972. 41. Substituted for members of either the Scheduled Castes or the Scheduled Tribes or of both by the Finance Act, 1994, w.r.e.f. 1-4-1993. 42. Substituted by the Finance Act, 1994, w.r.e.f. 1-4-1993. Earlier Explanation , as inserted by the Finance Act, 1980, w.r.e.f. 1-4-1972, read as under : ' Explanation .-For the purposes of this clause, Scheduled Castes and Scheduled Tribes shall have the meanings respectively assigned to them in clauses (24) and (25) of article 366 of the Constitution;' 43. Inserted by the Finance Act, 1995, w.e.f. 1-4-1995. 44. Inserted by the Finance Act, 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecial Economic Zones Act, 2005, w.e.f. 10-2-2006. 58. Clauses (37) and (38) inserted by the Finance (No. 2) Act, 2004, w.e.f. 1-4-2005. 59. Inserted by the Finance Act, 2006, w.e.f. 1-4-2007. 60. Substituted for fifty by the Finance Act, 2006, w.e.f. 1-6-2006. 61. Clauses (39) to (41) inserted by the Taxation Laws (Amendment) Act, 2005, w.e.f. 1-4-2006. 62. Inserted by the Finance Act, 2006, w.e.f. 1-4-2006. 63 . Inserted by the Finance Act, 2008, w.e.f. 1-4-1990. 64 . Inserted by the Finance Act, 2008, w.e.f. 1-4-2009. 65. Inserted by the Finance Act, 2008, w.e.f. 1-4-2002. 66. Inserted by the Finance Act, 2008, w.e.f. 1-4-2008. 67. Inserted by the Finance Act, 2007, w.e.f. 1-4-2008. 68. Substituted by the Finance Act, 2007, w.e.f. 1-4-2008. Prior to substitution it was read as under: 23 [ ( c ) venture capital undertaking means a venture capital under taking referred to in the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992) and notified as such in the Official Gazette by the Board for the purposes of this clause ;] Further Substituted vide Finance Act, 2012, (w.e.f. 01-04 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lished under the Unit Trust of India Act, 1963 (52 of 1963); ] ( ii ) which has been granted a certificate of registration under the Securities and Exchange Board of India Act, 1992 (15 of 1992), and regulations made thereunder; ( iii ) which fulfils the conditions as may be specified, with the approval of the Central Government, by the Securities and Exchange Board of India, by notification in the Official Gazette, in this behalf; and ] 68 [ ( c ) venture capital undertaking means a venture capital undertaking referred to in the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992) ] 78. Inserted vide Finance Act, 2013, w.e.f. 1st day of April, 2014 79. Inserted vide Finance Act, 2013, w.e.f. 1st day of April, 2014 80. Substituted vide Finance Act, 2013, w.e.f. 1st day of April, 2014 before it was read as sale of crude oil to any person . 81. Inserted vide Finance Act, 2013, w.e.f. 1st day of April, 2014 82. Inserted vide THE FINANCE (No. 2) ACT, 2014, w.e.f. 1st day of April, 2015 83. Inserted vide THE FINANCE (No. 2) ACT, 2014, w.e.f. 1st day of April, 2015 84. Inserted vide T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 015 103. Inserted vide THE FINANCE ACT, 2017 with effect from 1st day of April, 2018 104. Inserted vide THE FINANCE ACT, 2017 with effect from 1st day of April, 2018 105. Inserted vide THE FINANCE ACT, 2018 w.e.f. 1st day of April, 2019 106. Inserted vide THE FINANCE ACT, 2018 w.e.f. 1st day of April, 2019 107. Inserted vide THE FINANCE ACT, 2018 w.e.f. 1st day of April, 2019 108. Omitted vide FINANCE (NO. 2) ACT, 2019 w.e.f. 05-07-2019 before it was read as (not being listed on a recognised stock exchange) 109. Omitted vide Finance Act, 2020 dated 27-03-2020 w.e.f. 01-04-2021 before it was read as subject to the provisions of Chapter XII-E, 110. Substituted vide Finance Act, 2020 dated 27-03-2020 w.e.f. 01-04-2021 before it was read as referred to in sub-section (7) of section 115-O 111. Substituted vide Finance Act, 2020 dated 27-03-2020 w.e.f. 01-04-2021 before it was read as 94 [in sub-clause (a) of clause (23FC)] 112. Inserted vide Finance Act, 2020 dated 27-03-2020 w.e.f. 01-04-2021 113. Inserted vide Finance Act, 2020 dated 27-03-2020 w.e.f. 01-04-2021 114. Inserted vide Finance Act, 2020 dated 27-03-2020 w.e.f. 01-04-2021 115. Omitted vide Finance Act, 2020 dated 27-03-2020 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vide THE FINANCE ACT, 2021 dated 28-03-2021 w.e.f. 01-04-2021 before it was read as Explanation .-For the purposes of this clause, specified service shall have the meaning assigned to it in clause (i) of section 164 of Chapter VIII of the Finance Act, 2016. 137. Omitted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2023 before it was read as, 9 [(23EB) any income of the Credit Guarantee Fund Trust for Small 10 [ *** ] Industries, being a trust created by the Government of India and the Small Industries Development Bank of India established under sub-section (1) of section 3 of the Small Industries Development Bank of India Act, 1989 (39 of 1989), for five previous years relevant to the assessment years beginning on the 1st day of April, 2002 and ending on the 31st day of March, 2007; ] 138. Substituted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2024 before it was read as, interest 139. Omitted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2023 before it was read as, 34 [(26A) any income accruing or arising to any person 35 [ * * * ] from any source in the district of Ladakh or outside India in any previous year relevant to any assessment year com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or husband or paternal grandfather or brother from the same father has been recorded in that register;] 141. Inserted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2024 142. Omitted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2023 before it was read as, (41) any income arising from transfer of a capital asset, being an asset of an undertaking engaged in the business of generation or transmission or distribution of power where such transfer is effected on or before the 31st day of March, 2006, to the Indian company notified under sub-clause (a) of clause (v) of sub-section (4) of section 80-IA; ] 143. Substituted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2024 before it was read as, 106 [, or a class thereof] 144. Inserted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2024 145. Omitted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2023 before it was read as, 81 [ (49) any income of the National Financial Holdings Company Limited, being a company set up by the Central Government, of any previous year relevant to any assessment year commencing on or before the 1st day of April, 2014.] 146. Substituted vide THE FINANCE ACT, 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
