Amendment of section 94B.

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..... by a lender which is a permanent establishment in India of a non-resident, being a person engaged in the business of banking. . - Clause 46 of the Bill seeks to amend section 94B of the Income-tax Act relating to limitation on interest deduction in certain cases. Sub-section (1) of said section, inter alia, provides that notwithstanding anything contained in this Act, where an Indian company, or a .....

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..... ing a person engaged in the business of banking, in India. This amendment will take effect from 1st April, 2021 and will, accordingly, apply in relation to the assessment year 2021-2022 and subsequent assessment years. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com .....

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