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of <h1>Finance Bill 2014 amends Income-tax Act's Section 92B, redefining 'international transactions' for non-resident enterprises from April 2015.</h1> Clause 31 of the Finance (No. 2) Bill, 2014 amends section 92B of the Income-tax Act, specifically sub-section (2), effective from April 1, 2015. The amendment changes the phrase 'deemed to be a transaction' to 'deemed to be an international transaction' and adds that a transaction will be considered international if the enterprise or its associated enterprise, or both, are non-residents, regardless of the residency status of the third party involved. This modification clarifies the scope of international transactions under the transfer pricing regime for assessment year 2015-16 and onwards.
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