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of <h1>Amendment to Section 194A: 'Scheduled Bank' Added for Zero Coupon Bonds, Retrospective from April 1, 2009</h1> Clause 59 of the Finance (No. 2) Bill, 2009 proposes an amendment to section 194A of the Income-tax Act. The amendment involves sub-section (3), clause (x), where the term 'scheduled bank' will be added after 'public sector company.' This change ensures that income paid or payable on zero coupon bonds issued by scheduled banks, in addition to infrastructure capital companies, infrastructure capital funds, or public sector companies, will not be subject to the provisions of sub-section (1). The amendment is retrospective, effective from April 1, 2009.
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