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Union Budget 2026-27 - Finance Bill, 2026
Section 66(33) of the Act provides for definition of “specified derivative transaction”. The said definition uses the term “commodity derivative”. The term “commodity derivative” has been defined in the Income-tax Act, 1961, however, it is not defined in the Income-tax Act, 2025.
2. To align with the provisions of Income-tax Act, 1961, it is proposed to provide definition of “commodity derivative” as has been provided in the said Act.
3. It is proposed to amend section 66 of the Income-tax Act, 2025.
4. This amendment will take effect from 1st April, 2026.
[Clause 33]
Full Text:
Commodity derivative definition to be added to Income-tax Act, 2025 aligning with the 1961 Act, effective April 1, 2026. Amend the Income-tax Act, 2025 to provide a statutory definition of commodity derivative matching the definition in the Income-tax Act, 1961 for use in the definition of specified derivative transaction. The amendment is contained in Clause 33 of the Finance Bill, 2026 and takes effect from 1 April 2026. of Press 'Enter' after typing page number.
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