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TypeBare Act JurisdictionCentral Government

Finance Act 1999 Section 57

Amendment of Section 112

~1 min read
https://sooperkanoon.com/act/5524

Bare act section · Research

About this section

Finance Act 1999 Section 57 is part of Finance Act 1999 - Amendment of Section 112. Read the section text below and explore Indian court judgments that cite it.

Research copy - verify against official government publications before filing or court use.

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Section Text

In section 112 of the Income-tax Act, in sub-section (1), the following shall be inserted at the end with effect from the 1st day of April, 2000, namely :-

'Provided that where the tax payable in respect of any income arising from the transfer of a long-term capital asset, being listed securities, exceeds ten per cent. of the amount of capital gains before giving effect to the provisions of the second proviso to section 48, then, such excess shall be ignored for the purpose of computing the tax payable by the assessee.

Explanation. - For the purposes of this sub-section, "listed securities" means the securities -

(a) as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (32 of 1956); and

(b) listed in any recognised stock exchange in India.'.

Frequently asked questions

What does Finance Act 1999 Section 57 provide?

Section Section 57 of the Finance Act 1999 (Amendment of Section 112) 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 57?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act 1999 Section 57. 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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