Section 14 - Amendment of section 43D. - Finance Act, 2023

Amendment of section 43D. 14. In section 43D of the Income-tax Act, with effect from the 1st day of April, 2024, (i) in clause (a), for the words a deposit taking non-banking financial company or a systemically important non-deposit taking non-banking financial company , the words such class of non-banking financial companies as may be notified by the Central Government in the Official Gazette in this behalf shall be substituted; (ii) in the long line, for the words a deposit taking non-banking financial company or a systemically important non-deposit taking non-banking financial company , the words such class of non-banking financial companies as may be notified by the Central Government in the Official Gazette in this behalf, shall be substituted; (iii) in the Explanation, for clause (h), the following clause shall be substituted, namely: '(h) the expression non-banking financial company shall have the meaning assigned to it in clause (vii) of the Explanation to clause (viia) of sub-section (1) of section 36.'.