Clause 4 - Amendment of section 9. - Finance (No. 2) Bill, 2019

Amendment of section 9. 4. In section 9 of the Income-tax Act, in sub-section (1), after clause (vii), the following clause shall be inserted with effect from the 1st day of April, 2020, namely: (viii) income of the nature referred to in sub-clause (xviia) of clause (24) of section 2, arising from any sum of money paid, or any property situate in India transferred, on or after the 5th day of July, 2019 by a person resident in India to a person outside India. . Note: While Passing the bill in the Loksabha as on 18-7-2019, the following amendments were made: Amendment made: Page 6, for lines 47 to 49, substitute (viii) income arising outside India, being any sum of money referred to in sub-clause (xviia) of clause (24) of section 2, paid on or after the 5th day of July, 2019 by a person resident in India to a nonresident, not being a company,or to a foreign company. (7)