Clause 53 - Amendment of section 194C. - Finance (No. 2) Bill, 2024

Amendment of section 194C. 53. In section 194C of the Income-tax Act, in the Explanation, in clause (iv), for the long line, the following long line shall be substituted with effect from 1st day of October, 2024, namely: but does not include (A) manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from a person, other than such customer or associate of such customer; or (B) any sum referred to in sub-section (1) of section 194J. .