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of <h1>Finance Bill 2012 amends Income-tax Act, expanding tax avoidance rules to include specified domestic transactions from April 2013.</h1> Clause 37 of the Finance Bill, 2012, amends Chapter X of the Income-tax Act, specifically sections 92C, 92D, and 92E, by replacing 'international transaction' with 'international transaction or specified domestic transaction.' This change aims to extend the special provisions for tax avoidance to include specified domestic transactions. The amendment is effective from April 1, 2013, and applies to the assessment year 2013-2014 and subsequent years. These sections address the definition of transactions, documentation requirements, and the necessity for an accountant's report for those entering into such transactions.
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