Clause 14 - Amendment of section 43B - Finance Bill, 2022

Amendment of section 43B. 14. In section 43B of the Income-tax Act, with effect from the 1st day of April, 2023, (i) in Explanation 3C, after the words loan or borrowing , the words or debenture or any other instrument by which the liability to pay is deferred to a future date shall be inserted; (ii) in Explanation 3CA, after the words loan or borrowing , the words or debenture or any other instrument by which the liability to pay is deferred to a future date shall be inserted; (iii) in Explanation 3D, after the words loan or advance , the words or debenture or any other instrument by which the liability to pay is deferred to a future date shall be inserted.