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Amendment of section 35AD.

Clause 18 - Bill - DIRECT TAXES - Bill - Clause 18 - 18. In section 35AD of the Income-tax Act, with effect from the 1st day of April, 2018,- (a) sub-section (1A) shall be omitted; (b) in sub-section (2), after clause (iii), the following clause shall be inserted, namely:- (iv) where the business is of the nature referred to in sub-clause (xiv) of clause (c) of sub-section (8), such business,- (A) is owned by a company registered in India or by a consortium of such companies or by an authority o .....

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lause (aj), the following clause shall be inserted, namely:- (ak) on or after the 1st day of April, 2017, where the specified business is in the nature of developing or operating and maintaining or developing, operating and maintaining, any infrastructure facility; and ; (d) in sub-section (8),- (I) after clause (b), the following clause shall be inserted, namely:- (ba) infrastructure facility means- (i) a road including toll road, a bridge or a rail system; (ii) a highway project including hous .....

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