Amendment of section 94B.

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Full Text of the Document

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.... lender which is a permanent establishment in India of a non-resident, being a person engaged in the business of banking.". - Clause 46 of the Bill seeks to amend section 94B of the Income-tax Act relating to limitation on interest deduction in certain cases. Sub-section (1) of said section, inter alia, provides that notwithstanding anything contained in this Act, where an Indian company, or a....