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<h1>Finance Bill 2017 amends Section 12AA of Income-tax Act; updates apply from April 1, 2018, for assessment year 2018-2019.</h1> Clause 10 of the Finance Bill, 2017, amends section 12AA of the Income-tax Act, effective from April 1, 2018. The amendment involves updating sub-sections (1) and (2) by inserting references to a newly added clause (ab) alongside the existing clause (aa) in section 12A. This change is consequential and will apply from the assessment year 2018-2019 onwards.