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TypeBare Act JurisdictionCentral Government

Finance Act,1990 Section 15

Amendment of Section 45

~1 min read
https://sooperkanoon.com/act/17205

Bare act section · Research

About this section

Finance Act,1990 Section 15 is part of Finance Act,1990 - Amendment of Section 45. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 45 of the Income-tax Act, after sub-section (5) and the Explanation thereto, the following sub-section shall be inserted with effect from the 1st day of April, 1991, namely :-

'(6) Notwithstanding anything contained in sub-section (1), the difference between the repurchase price of the units referred to in sub-section (2) of section 80CCB and the capital value of such units shall be deemed to be the capital gains arising to the assessee in the previous year in which such repurchase takes place or the plan referred to in that section is terminated and shall be taxed accordingly.

Explanation : For the purposes of this sub-section, "capital value of such units" means any amount invested by the assessee in the units referred to in sub-section (2) of section 80CCB.'

Frequently asked questions

What does Finance Act,1990 Section 15 provide?

Section Section 15 of the Finance Act,1990 (Amendment of Section 45) is reproduced on this page as part of the Finance Act,1990. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act,1990 Section 15?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act,1990 Section 15. Advanced act search can narrow results by court, year, or additional act filters.

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SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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