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of <h1>Finance Bill 2019 Amends Section 9: Income from Resident to Non-Resident Transfers Deemed to Arise in India</h1> Clause 4 of the Finance (No. 2) Bill, 2019 amends section 9 of the Income-tax Act to include a new clause (viii) in sub-section (1). This clause specifies that income, as described in sub-clause (xviia) of clause (24) of section 2, arising from money paid or property in India transferred by a resident to a non-resident on or after July 5, 2019, will be deemed to accrue or arise in India. The amendment takes effect from April 1, 2020, applicable for the assessment year 2020-2021 and subsequent years.
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