Amendment of section 195.
85. In section 195 of the Income-tax Act, in sub-section (1), the second proviso shall be omitted.
Notes on Clauses:
Clause 85 of the Bill seeks to amend section 195 of the Income-tax Act relating to other sums.
The second proviso of sub-section (2) of the said section provides that no deduction under that section shall be made in respect of any dividends referred to in section 115-O.
It is proposed to consequentially omit the said proviso.
This amendment will take effect from 1st April, 2020.
