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of <h1>Finance Bill 2009 Amends Section 80A: New Rules on Deductions, Market Value Transfers, Effective Retroactively from 2003.</h1> Clause 29 of the Finance (No. 2) Bill, 2009 amends section 80A of the Income-tax Act, introducing sub-sections (4), (5), and (6) with retrospective effect from April 1, 2003. Sub-section (4) restricts deductions of profits and gains from eligible businesses to prevent double deductions under other provisions. Sub-section (5) disallows deductions if not claimed in the income return. Sub-section (6) mandates that transfers of goods or services between businesses must be recorded at market value for deduction purposes. These changes aim to ensure accurate computation of profits and deductions, with the amendment effective from April 1, 2009.
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