Clause 67 - Amendment of section 194LC. - Finance Bill, 2017

Amendment of section 194LC. 67. In section 194LC of the Income-tax Act, in sub-section (2),- (a) in clause (i), with effect from the 1st day of April, 2018,- (A) in sub-clauses (a) and (c), for the figures, letters and words 1st day of July, 2017 , the figures, letters and words 1st day of July, 2020 shall be substituted; (B) in the long line, for the word and , the word or shall be substituted; (b) after clause (i), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2016, namely:- (ia) in respect of monies borrowed by it from a source outside India by way of issue of rupee denominated bond before the 1st day of July, 2020, and .