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Section 8 – Taxation Laws (Amendment) Act,2006

Taxation Laws (Amendment) Act,2006

Section 8. Amendment of Section 40

In Section 40 of the Income Tax Act, in clause (a), in sub-clause (id), with effect from the 1st day of April,2006,-

(a) after the words “commission or brokerage,”, the words “rent, royalty,” shall be inserted’,

(b) in the Explanation, after clause (iv), the following clauses shall be inserted at the end, namely:-

‘(v) “rent” shall have the same meaning as in clause (i) to the Explanation to Section 194-1;

(vi) “royalty” shall have the same meaning as in Explanation 2 to clause (vi) of sub-section (1) of Section 9;

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Taxation Laws (Amendment) Act,2006

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