Section 11 - Amendment of section 28. - Finance Act, 2023

Amendment of section 28. 11. In section 28 of the Income-tax Act, for clause (iv), the following clause shall be substituted with effect from the 1st day of April, 2024, namely: (iv) the value of any benefit or perquisite arising from business or the exercise of a profession, whether (a) convertible into money or not; or (b) in cash or in kind or partly in cash and partly in kind; .