Section 92BA - Meaning of specified domestic transaction. - Income-tax Act, 1961

1 [Meaning of specified domestic transaction. 92BA. For the purposes of this section and sections 92, 92C, 92D and 92E, specified domestic transaction in case of an assessee means any of the following transactions, not being an international transaction, namely:- ( i ) 3 [***] ( ii ) any transaction referred to in section 80A; ( iii ) any transfer of goods or services referred to in sub-section (8) of section 80-IA; ( iv ) any business transacted between the assessee and other person as referred to in sub-section (10) of section 80-IA; ( v ) any transaction, referred to in any other section under Chapter Vl-A or section 10AA, to which provisions of sub-section (8) or sub-section (10) of section 80-IA are applicable; or 4 [ (va) any business transacted between the persons referred to in sub-section (4) of section 115BAB; ] 5 [ (vb) any business transacted between the assessee and other person as referred to in sub-section (4) of section 115BAE; ] ( vi ) any other transaction as may be prescribed, and where the aggregate of such transactions entered into by the assessee in the previous year exceeds a sum of 2 [twenty crore rupees]. ] ---------------------------------------- Notes:- 1. Inserted vide Finance Act, 2012, w.e.f. 01-04-2013. 2. Substituted vide THE FINANCE ACT, 2015 w.e.f. 1st day of April, 2016, before it was read as, five crore rupees 3. Omitted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2017 before it was read as, ( i ) any expenditure in respect of which payment has been made or is to be made to a person referred to in clause ( b ) of sub-section (2) of section 40A; 4. Inserted vide Taxation Laws (Amendment) Act, 2019 w.e.f. 01-04-2020 5. Inserted vide THE FINANCE ACT, 2023 dated 31-03-2023 w.e.f. 01-04-2024