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TypeBare Act JurisdictionCentral Government Enacted2009

Finance (No. 2) Act 2009 Section 15

Amendment of Section 40

~1 min read

https://sooperkanoon.com/act/25983

Bare act section · Research

About this section

Finance (No. 2) Act 2009 Section 15 is part of Finance (No. 2) Act 2009 - Amendment of Section 40. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 40 of the Income-tax Act, in clause (b), in sub-clause (v), for items (1) and (2), the following shall be substituted with effect from the 1st day of April, 2010, namely:--

"(a) on the first Rs.3,00,000 of the book-profit or in case of a loss	Rs. 1,50,000 or at the rate of 90 per cent. of the book-profit, whichever is more;
(b) on the balance of the book-profit	at the rate of 60 per cent.:".

Frequently asked questions

What does Finance (No. 2) Act 2009 Section 15 provide?

Section Section 15 of the Finance (No. 2) Act 2009 (Amendment of Section 40) is reproduced on this page as part of the Finance (No. 2) Act 2009. 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 (No. 2) Act 2009 Section 15?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance (No. 2) Act 2009 Section 15. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

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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