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of <h1>Finance Bill 2010 Amends Section 44BB: Clarifies Non-Applicability When Section 44DA Is Relevant, Effective April 2011</h1> Clause 16 of the Finance Bill, 2010, amends section 44BB of the Income-tax Act, which addresses the computation of profits for non-resident entities involved in the mineral oil sector. The amendment involves adding 'section 44DA' to the proviso of sub-section (1), indicating that section 44BB's provisions will not apply when section 44DA is relevant. This change clarifies the non-applicability of section 44BB in cases where section 44DA provisions are applicable. The amendment is effective from April 1, 2011, impacting the assessment year 2011-2012 and subsequent years.
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