Section 34 - Amendment of section 55. - Finance Act, 2016

Amendment of section 55. 34. In section 55 of the Income-tax Act, with effect from the 1st day of April, 2017,- (i) in sub-section (1), in clause (b), in sub-clause (1), after the words any business , the words or profession shall be inserted; (ii) in sub-section (2), in clause (a), after the words any business , the words or profession shall be inserted.