Section 72 - Amendment of section 206C. - Finance Act, 2017

Amendment of section 206C. 72. In section 206C of the Income-tax Act,- (a) sub-section (1D) shall be omitted; (b) sub-section (1E) shall be omitted; (c) in sub-sections (2), (3), (3A) and sub-section (9), the words, brackets, figure and letter or sub-section (1D) wherever they occur, shall be omitted; (d) in sub-section (6A), in the first proviso, the words, brackets, figure and letter , other than a person referred to in sub-section (1D), shall be omitted; (e) in sub-section (7), in the proviso, the words, brackets, figure and letter , other than a person referred to in sub-section (1D), shall be omitted;'. (f) in the Explanation occurring after sub-section (11),- (A) in clause (aa),- (I) sub-clasuse (ii) shall be omitted; (II) after sub-clause (ii), the following sub-clause shall be inserted, namely:- (iii) sub-section (1F) means a person who obtains in any sale, goods of the nature specified in the said sub-section, but does not include,- (A) the Central Government, a State Government and an embassy, a High Commission, legation, commission, consulate and the trade representation of a foreign State; or (B) a local authority as defined in Explanation to clause (20) of section 10; or (C) a public sector company which is engaged in the business of carrying passengers. ; (B) clause (ab) shall be omitted. (C) in clause (c), for the words, brackets, figures and letters or sub section (1D) are sold or services referred to in sub-section (1D) are provided , the words are sold shall be substituted.