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TypeBare Act JurisdictionCentral Government

Finance Act 1999 Section 33

Insertion of New Section 46a

~1 min read
https://sooperkanoon.com/act/5500

Bare act section · Research

About this section

Finance Act 1999 Section 33 is part of Finance Act 1999 - Insertion of New Section 46a. Read the section text below and explore Indian court judgments that cite it.

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Section Text

After section 46 of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2000, namely :-

'46A. CAPITAL GAINS ON PURCHASE BY COMPANY OF ITS OWN SHARES OR OTHER SPECIFIED SECURITIES.

Where a shareholder or a holder of other specified securities receives any consideration from any company for purchase of its own shares or other specified securities held by such shareholder or holder of other specified securities, then, subject to the provisions of section 48, the difference between the cost of acquisition and the value of consideration received by the shareholder or the holder of other specified securities, as the case may be, shall be deemed to be the capital gains arising to such shareholder or the holder of other specified securities, as the case may be, in the year in which such shares or other specified securities were purchased by the company.

Explanation. - For the purposes of this section, "specified securities" shall have the meaning assigned to it in Explanation to section 77A of the Companies Acts, 1956 (1 of 1956).'.

Frequently asked questions

What does Finance Act 1999 Section 33 provide?

Section Section 33 of the Finance Act 1999 (Insertion of New Section 46a) is reproduced on this page as part of the Finance Act 1999. 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 1999 Section 33?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act 1999 Section 33. 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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