Clause 4 - Amendment of section 6. - Finance Bill, 2016

Amendment of section 6. 4. In section 6 of the Income-tax Act, for clause (3), the following clause shall be substituted with effect from the 1st day of April, 2017, namely:- (3) A company is said to be a resident in India in any previous year, if- (i) it is an Indian company; or (ii) its place of effective management, in that year, is in India. Explanation.-For the purposes of this clause place of effective management means a place where key management and commercial decisions that are necessary for the conduct of business of an entity as a whole are, in substance made. .