Omission of sections 194K and 194L.
78. Section 194K and section 194L of the Income-tax Act shall be omitted with effect from the 1st day of June, 2016.
Notes on Clauses:
Clause 78 of the Bill seeks to omit section 194K relating to income in respect of units and section 194L relating to payment of compensation on acquisition of capital asset, of the Income-tax Act with effect from 1st June, 2016.
