Taxation laws Amendment Act 2019
The Taxation Laws (Amendment) Act 2019. Tax on income of certain domestic companies. The Taxation Laws ( Amendment ) Ordinance, 2019 repealed
MINISTRY OF LAW AND JUSTICE
(Legislative Department)
New Delhi, the 12th December, 2019/Agrahayana 21, 1941 (Saka)
The following Act of Parliament received the assent of the President on the
11th December, 2019, and is hereby published for general information:—
THE TAXATION LAWS (AMENDMENT) ACT, 2019
NO. 46 OF 2019 [11th December, 2019.]
An Act further to amend the Income-tax Act, 1961 and to amend the Finance
(No. 2) Act, 2019.
BE it enacted by Parliament in the Seventieth Year of the Republic of India as follows:—
CHAPTER I
PRELIMINARY
Short title and
commencement
1. (1) This Act may be called the Taxation Laws (Amendment) Act, 2019.
(2) Save as otherwise provided, it shall be deemed to have come into force on the 20th day of September, 2019.
CHAPTER II
AMENDMENTS IN THE INCOME-TAX ACT, 1961
Amendment
of section 92BA
2. In section 92BA of the Income-tax Act, 1961 (hereafter in this Chapter referred to as the Income-tax Act), after clause (v), the following clause shall be inserted, with effect from the 1st day of April, 2020, namely:—
“(va) any business transacted between the persons referred to in sub-section (6) of section 115BAB;”.
Amendment
of section 115BA.
3. In section 115BA of the Income-tax Act, with effect from the 1st day of April, 2020,—
(a) for the marginal heading “Tax on income of certain domestic companies”, the marginal heading “Tax on income of certain manufacturing domestic companies” shall be substituted;
(b) in sub-section (1), for the words “subject to the other provisions of this
Chapter”, the words, figures and letters “subject to the other provisions of this Chapter, other than those mentioned under section 115BAA and section 115BAB” shall be substituted;
(c) in sub-section (4), after the proviso, the following proviso shall be inserted, namely:—
“Provided further that where the person exercises option under section 115BAA, the option under this section may be withdrawn.”.
CBDT condones delay in filing Form No. 10AB furnished electronically between 01.10.2025 to 31.03.2026. CBDT has condoned the delay in…
Supreme Court expresses serious concerns over AI generated judgments/paragraphs relied upon by the NCLT/NCLAT In a recent judgment, the Hon'ble…
ICAI to take disciplinary action for quoting very low and incommensurate fee by Chartered Accountants As per the announcement made…
NSDL latest e-TDS TCS RPU Version 6.0 from FY 2007-08 NSDL has revised the e-TDS TCS RPU utility for preparing…
Requirement for filing Form 67 for claiming Foreign Tax Credit (FTC) is only directory and not mandatory - ITAT In…
Limitation for invoking revisional jurisdiction u/s 263 with respect to issues not covered in re-assessment would start from the original…