Amendment of section 44BB

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Full Text of the Document

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.... the 1st day of April, 2011. - Clause 16 of the Bill seeks to amend section 44BB of the Income tax Act relating to special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils. Under the existing provisions contained in sub-section (1) of the aforesaid section, income of a non-resident assessee who is engaged in the business of providi....