Section 8 - Amendment of section 40. - Taxation Laws (Amendment) Act, 2006

Amendment of section 40. 8. In section 40 of the Income-tax Act, in clause (a), in sub-clause (ia), with effect from the 1st day of April, 2006,- (a) after the words commission or brokerage, , the words rent, royalty, shall be inserted; (b) in the Explanation, after clause (iv), the following clauses shall be inserted at the end, namely:- '(v) rent shall have the same meaning as in clause (i) to the Explanation to section 194-I; (vi) royalty shall have the same meaning as in Explanation 2 to clause (vi) of sub-section (l) of section 9;'.