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Restriction on payment Specified persons u/s 40A(2) - specified domestic transaction which were subject to TPA was allowed as deduction if it was at "Arms Length Price" - Now this benefit withdrawn - such transaction shall be allowed subject to the Provisions of Section 40A(2) - Budget 2017-18 w.e.f. AY 2017-18 (Retrospective)

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Dated: 2-2-2017

Clause - 015 - Amendment of section 40A.

THE FINANCE BILL, 2017

Clause 15 of the Bill seeks to amend section 40A of the lncome -tax Act relating to expenses or payments not deductible in certain circumstances.

It is also proposed to amend the proviso to clause (a) of sub-section (2) which is consequential to the amendments proposed in section 92BA.

 

 

 

 
 
 
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