Section 62 - Amendment of section 115VP. - Finance Act, 2023

Amendment of section 115VP. 62. In section 115VP of the Income-tax Act, (i) In sub-section (2), after the proviso, the following proviso shall be inserted, namely: ''Provided further that a Unit of an International Financial Services Centre which has availed of deduction under section 80LA may make an application within three months from the date on which such deduction ceases. ; (ii) after sub-section (5), the following Explanation shall be inserted, namely: 'Explanation. For the purposes of this section ''International Financial Services Centre'' shall have the same meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005.).'.