Income Tax Act, 2025
Section 3: Ins. by Act 32 of 2003, s. 47 (w.e.f. 12004).
3. Ins. by Act 32 of 2003, s. 47 (w.e.f. 12004).
4. The words “construction of which is completed after the 31st day of March, 1987, and the” omitted by Act 49 of 1991,
s. 38 (w.e.f. 11992).
5. Subs. by Act 10 of 2000, s. 46, for “which is approved for the purposes of clause (viii) of sub-section (1) of section 36
(w.e.f. 12000).
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(6) any company in which the public are substantially interested or any co-operative
society, where such company or co-operative society is engaged in the business of financing
the construction of houses, or
1[(6A) the assessee’s employer where such employer is an authority or a board or a
corporation or any other body established or constituted under a Central or State Act, or]
(7) the assessee’s employer where such employer is a public company or a public sector
company or a University established by law or a college affiliated to such University or a
local authority 2[or a co-operative society];
(d) stamp duty, registration fee and other expenses for the purpose of transfer of such house
property to the assessee,
but shall not include any payment towards or by way of—
(A) the admission fee, cost of share and initial deposit which a shareholder of a company or a
member of a co-operative society has to pay for becoming such shareholder or member; or
3* * * * *
(C) the cost of any addition or alteration to, or renovation or repair of, the house property
which is carried out after the issue of the completion certificate in respect of the house property
by the authority competent to issue such certificate or after the house property or any part thereof
has either been occupied by the assessee or any other person on his behalf or been let out; or
(D) any expenditure in respect of which deduction is allowable under the provisions
of section 24;
4[(xvi) as subscription to equity shares or debentures forming part of any eligible issue of capital
approved by the Board on an application made by a public company 5[or as subscription to any
eligible issue of capital by any public financial institution] in the prescribed form:
Provided that where a deduction is claimed and allowed under this clause with reference to the
cost of any equity shares or debentures, the cost of such shares or debentures shall not be taken into
account for the purposes of sections 54EA and 54EB.
6[Explanation.—For the purposes of this clause,—
(i) “eligible issue of capital” means an issue made by a public company formed and registered
in India or a public financial institution and the entire proceeds of the issue are utilised wholly
and exclusively for the purposes of any business referred to in sub-section (4) of section 80-IA;
(ii) “public company” shall have the meaning assigned to it in section 3 of the Companies
Act, 1956 (1 of 1956);
(iii) “public financial institution” shall have the meaning assigned to it in section 4A of the
Companies Act, 1956 (1 of 1956);]]
of sub-section
of section 36
(w.e.f. 12000).
430
any company in which the public are substantially interested or any co-operative
society, where such company or co-operative society is engaged in the business of financing
the construction of houses, or
1[
the assessee’s employer where such employer is an authority or a board or a
corporation or any other body established or constituted under a Central or State Act, or]
the assessee’s employer where such employer is a public company or a public sector
company or a University established by law or a college affiliated to such University or a
local authority 2[or a co-operative society];
stamp duty, registration fee and other expenses for the purpose of transfer of such house
property to the assessee,
but shall not include any payment towards or by way of—
the admission fee, cost of share and initial deposit which a shareholder of a company or a
member of a co-operative society has to pay for becoming such shareholder or member; or
3* * * * *
the cost of any addition or alteration to, or renovation or repair of, the house property
which is carried out after the issue of the completion certificate in respect of the house property
by the authority competent to issue such certificate or after the house property or any part thereof
has either been occupied by the assessee or any other person on his behalf or been let out; or
any expenditure in respect of which deduction is allowable under the provisions
of section 24;
4[
as subscription to equity shares or debentures forming part of any eligible issue of capital
approved by the Board on an application made by a public company 5[or as subscription to any
eligible issue of capital by any public financial institution] in the prescribed form:
Provided that where a deduction is claimed and allowed under this clause with reference to the
cost of any equity shares or debentures, the cost of such shares or debentures shall not be taken into
account for the purposes of sections 54EA and 54EB.
6[Explanation.—For the purposes of this clause,—
“eligible issue of capital” means an issue made by a public company formed and registered
in India or a public financial institution and the entire proceeds of the issue are utilised wholly
and exclusively for the purposes of any business referred to in sub-section
of section 80-IA;
“public company” shall have the meaning assigned to it in section 3 of the Companies
Act, 1956 (1 of 1956);
“public financial institution” shall have the meaning assigned to it in section 4A of the
Companies Act, 1956 (1 of 1956);]]