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of <h1>Finance Bill 2019 amends Income-tax Act Section 92CD, altering income assessment to align with advance pricing agreements.</h1> Clause 29 of the Finance (No. 2) Bill, 2019 amends section 92CD of the Income-tax Act, effective from September 1, 2019. The amendment changes sub-section (3) to require the Assessing Officer to pass an order modifying the total income of the relevant assessment year based on a filed modified return, in accordance with an advance pricing agreement, rather than assessing, reassessing, or recomputing the total income. Additionally, sub-section (5) is amended to omit certain words related to assessment, reassessment, or recomputation of total income. These changes align the process with the terms of advance pricing agreements.
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