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of <h1>Amendments to Section 92CE: Tax Refunds Prohibited Based on Pre-Amendment Rules; New Tax on Unrepatriated Funds Introduced.</h1> Section 92CE of the Income-tax Act has been amended by the Finance (No. 2) Act, 2019. Changes include substituting references to section 92CC with a specific date, modifying monetary thresholds, and inserting a proviso that prohibits tax refunds based on pre-amendment provisions. Sub-section (2) clarifies that excess money can be repatriated from associated enterprises outside India. New sub-sections (2A) to (2D) allow taxpayers to pay an 18% tax on unrepatriated excess money, treat this as a final tax payment, and prohibit deductions on such amounts. Secondary adjustments and interest computations are waived upon tax payment.
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