Amendment to section 40A clarifies Explanation 2 to include amounts treated as perquisites under the remuneration provision.

Amendment modifies section 40A Explanation 2 by removing a coordinating conjunction in one sub-clause, substituting conjunctional wording in the preceding sub-clause, and inserting a new sub-clause to treat amounts recognised as perquisites under the remuneration provision of clause (2) as within the scope of the disallowance list in sub-section (5)(b).

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