Clause 13 - Amendment of section 40 - Finance Bill, 2022

Amendment of section 40. 13. In section 40 of the Income-tax Act, in clause (a), in subclause (ii), after Explanation 2, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2005, namely: Explanation 3. For the removal of doubts, it is hereby clarified that for the purposes of this sub-clause, the term tax shall include and shall be deemed to have always included any surcharge or cess, by whatever name called, on such tax. .