Section 11 of Finance Act 2018 : Amendment of section 40A of Income Tax

By | April 1, 2018
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(Last Updated On: April 14, 2018)

Section 11 of Finance Act 2018

[Section 11 of Finance Act 2018 deals with Amendment of section 40A. and is covered in CHAPTER III DIRECT TAXES]

Amendment of section 40A.

11. In section 40A of the Income-tax Act, after sub-section (12) [as omitted by section 17 of the Finance Act, 1992 (18 of 1992)], the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2017, namely:—

“(13) No deduction or allowance shall be allowed in respect of any marked to market loss or other expected loss, except as allowable under clause (xviii) of sub-section (1) of section 36.”.

Finance Act 2018 : Assented by President : Download Print Notification

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