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Amendment of section 206C.

Clause 86 - Bills - DIRECT TAXES - FINANCE BILL, 2016 - Clause 86 - 86. In section 206C of the Income-tax Act, with effect from the 1st day of June, 2016,- (i) in sub-section (1), in the Table, after serial number (vii) and the entries relating there .....

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, the words or any other goods (other than bullion or jewellery) or providing any service shall be inserted; (B) in clause (ii), for the word rupees. , the words rupees; or shall be substituted; (C) after clause (ii), the following clause shall be in .....

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een deducted by the payer under Chapter XVII-B. ; (iii) after sub-section (1D), the following sub-section shall be inserted, namely:- (1E) Nothing contained in sub-section (1D) in relation to sale of any goods (other than bullion or jewellery) or pro .....

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ed to in sub-section (1D) are provided shall be inserted. Clause 86 of the Bill seeks to amend section 206C of the Income-tax Act relating to profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc. The aforesai .....

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