Clause 13 - Amendment of section 37. - Finance (No. 2) Bill, 2024

Amendment of section 37. 13. In section 37 of the Income-tax Act, in sub-section (1), in Explanation 3, in clause (iii), for the words outside India , the following shall be substituted with effect from 1st day of April, 2025, namely: outside India; or (iv) to settle proceedings initiated in relation to contravention under such law as may be notified by the Central Government in the Official Gazette in this behalf. .