Clause 74 - Amendment of section 234C. - Finance Bill, 2017

Amendment of section 234C. 74. In section 234C of the Income-tax Act, in sub-section (1),- (i) in clause (a), for the words, figures and letters an eligible assessee in respect of the eligible business referred to in section 44AD , the words, brackets and letter the assessee referred to in clause (b) shall be substituted; (ii) in clause (b), for the words, figures and letters an eligible assessee in respect of the eligible business referred to in section 44AD , the words, brackets, figures and letters an assessee who declares profits and gains in accordance with the provisions of sub-section (1) of section 44AD or sub-section (1) of section 44ADA, as the case may be shall be substituted; (iii) in the first proviso,- (A) in clause (c), for the words first time, occurring at the end, the words first time; or shall be substituted; (B) after clause (c) and before the long line, the following clause shall be inserted, namely:- (d) income of the nature referred to in sub-section (1) of section 115BBDA, ; (C) in the long line, after the words, brackets and letter or clause (c) , the words, brackets and letter or clause (d) shall be inserted.