Income-tax amendment replaces authorised dealer with authorised person and imports FEMA's authorised person definition for tax provisions. Section 204 is amended to substitute the term authorised dealer with authorised person in clause (iia) and to replace the Explanation's clause (b) so that ... Summary
Income-tax amendment replaces authorised dealer with authorised person and imports FEMA's authorised person definition for tax provisions.
Section 204 is amended to substitute the term authorised dealer with authorised person in clause (iia) and to replace the Explanation's clause (b) so that authorised person has the meaning given in clause (c) of section 2 of the Foreign Exchange Management Act, 1999.
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