# The Finance Act, 2016, Section 25: Amendment of section 44AB

- Act: The Finance Act, 2016
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2016/section/25/

## Text

Amendment of section 44AB. 25. In section 44AB of the Income-tax Act, with effect from the 1st day of April, 2017,— (i) | in clause (b), for the words "twenty-five lakh rupees", the words "fifty lakh rupees" shall be substituted; (ii) | in clause (d),— (a) | for the word "business" wherever it occurs, the word "profession" shall be substituted; (b) | for the words, figures and letters "under section 44AD", the words, figures and letters "under section 44ADA" shall be substituted; (c) | for the words "previous year", the words "previous year; or" shall be substituted; (iii) | after clause (d) and before the long line, the following clause shall be inserted, namely:— "(e) | carrying on the business shall, if the provisions of sub-section (4) of section 44AD are applicable in his case and his income exceeds the maximum amount which is not chargeable to income-tax in any previous year,".

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