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TypeBare Act JurisdictionCentral Government

Finance Act 2007 Section 39

Amendment of Section 115 Wc

~1 min read
https://sooperkanoon.com/act/443552

Bare act section · Research

About this section

Finance Act 2007 Section 39 is part of Finance Act 2007 - Amendment of Section 115 Wc. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 115WC of the Income-tax Act, in sub-section (1), after clause (b), the following shall be inserted with effect from the 1st day of April, 2008, namely:--

'(ba) the fair market value of the specified security or sweat equity shares referred to in clause (d) of sub-section (1) of section 115 WB, on the date on which the option vests with the employee as reduced by the amount actually paid by, or recovered from, the employee in respect of such security or shares.

Explanation.--For the purposes of this clause,--

(i) "fair market value" means the value determined in accordance with the method as may be prescribed by the Board;

(ii) "option" means a right but not an obligation granted to an employee to apply for the specified security or sweat equity shares at a predetermined price.'.

Frequently asked questions

What does Finance Act 2007 Section 39 provide?

Section Section 39 of the Finance Act 2007 (Amendment of Section 115 Wc) is reproduced on this page as part of the Finance Act 2007. 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 2007 Section 39?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act 2007 Section 39. 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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