Clause 113 - Amendment of section 271C. - Finance Bill, 2023

Amendment of section 271C. 113. In section 271C of the Income-tax Act, in sub-section (1), (A) in clause (b), (I) for the words pay the whole , the words pay or ensure payment of, the whole shall be substituted; (II) in sub-clause (i), the word or shall be omitted; (III) after sub-clause (ii), the following sub-clauses shall be inserted, namely: (iii) the first proviso to sub-section (1) of section 194R; or (iv) the proviso to sub-section (1) of section 194S; or ; (IV) after sub-clause (iv) as inserted by the Finance Act, 2023, the following sub-clause shall be inserted with effect from the 1st day of July, 2023, namely: (v) sub-section (2) of section 194BA, ; (B) in the long line, after the words deduct or pay , the words or ensure payment of, shall be inserted.