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of <h1>Section 43D Income-tax Act amendment expands scope to include certain non-banking financial companies from April 2020.</h1> Section 43D of the Income-tax Act is amended effective April 1, 2020. The amendment includes adding 'deposit taking non-banking financial company' and 'systemically important non-deposit taking non-banking financial company' to the entities referenced in clause (a) and the long line of the section. Additionally, a new clause (h) is inserted in the Explanation, defining these financial entities with the meanings assigned in Explanation 4 to section 43B. This expands the applicability of section 43D to include these types of non-banking financial companies.
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