TMI BlogAmendment of section 36.X X X X Extracts X X X X X X X X Extracts X X X X ..... i), in the Explanation, in clause (b), for sub-clause (i), the following sub-clause shall be substituted with effect from the 1st day of April, 2010, namely:— "(i) in respect of the specified entity referred to in sub-clause (i) or sub-clause (ii) or sub-clause (iii) or sub-clause (iv) of clause (a), the business of providing long-term finance for- (A) industrial or agricultural development; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... blic sector company. The proposed amendment is consequential in nature. This amendment will take effect retrospectively from 1st April, 2009. Clause (viii) of the said sub-section relates to deduction in respect of any special reserve created and maintained by eligible entities carrying out eligible businesses for an amount not exceeding twenty per cent. of profits derived from eligible busi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... commodities transactions entered into in the course of his business during the previous year shall be allowed as a deduction, if the income arising from such taxable commodities transactions is included in the income computed under the head Profits and gains of business or profession. It is proposed to omit the said clause (xvi) retrospectively with effect from 1st April, 2009. - statute, s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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