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of <h1>Income Tax Act Amended: New Clause for Non-Working Partners in Section 158BB Effective April 1, 1999</h1> Section 158BB of the Income-tax Act has been amended by the Finance (No. 2) Act, 1998. In sub-section (1), clause (b) of the Explanation, the phrase 'to any partner not being a working partner' is added following the words 'by whatever name called.' This amendment is effective from April 1, 1999, and pertains to the distribution of income or benefits to partners who are not actively involved in the business operations as working partners.
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