39. Omission of Explanation occurring after section 115Q.
After section 115Q of the Income-tax Act, the Explanation shall be omitted.
Notes on Clauses:
Clause 39 of the Bill seeks to omit the Explanation occurring after section 115Q of the Income-tax Act.
The said Explanation clarifies that the expression "dividends" shall have the same meaning as is given in clause (22) of section 2 but shall not include sub-clause (e) thereof.
It is proposed to omit the said Explanation consequent to the amendments made to section 115-O.
This amendment will take effect from 1st April, 2018.