# The Finance Act, 1991, Section 40: Amendment of section 115A

- Act: The Finance Act, 1991 (Act 49 of 1991)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1991/section/40/

## Text

Amendment of section 115A. 40. In section 115A of the Income-tax Act,— (a) in sub-section (1 A),— (i) after the words "an Indian concern", the words "or in respect of any computer software to a person resident in India" shall be inserted; (ii) after the proviso, the following proviso shall be inserted, namely:—. "Provided further that such computer software is permitted according to the Import Trade Control Policy of the Government of India for the time being in force to be imported into India under an Open General Licence."; (iii) the existing Explanation shall be renumbered as Explanation 1 and after Explanation 1 as so renumbered, the following Explanation shall be inserted, namely:— 'Explanation 2.—In this sub-section, the expression "computer software" shall have the meaning assigned to it in clause (b) of the Explanation to section 80HHE.'; (b) in sub-section (2), for the words "purposes of the proviso", the words "purposes of the first proviso" shall be substituted. [Finance (No. 2) Act, 1991] © Copyright. Taxmann Publications Pvt. Ltd.

---
Published by eCourtsIndia together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957.