# The Finance Act, 2017, Section 68: Amendment of section 194LC

- Act: The Finance Act, 2017
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2017/section/68/

## Text

Amendment of section 194LC. 68. In section 194LC of the Income-tax Act, in sub-section (2),— (a) | in clause (i), with effect from the 1st day of April, 2018,— (A) | in sub-clauses (a) and (c), for the figures, letters and words "1st day of July, 2017", the figures, letters and words "1st day of July, 2020" shall be substituted; (B) | in the long line, for the word "and", the word "or" shall be substituted; (b) | after clause (i), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2016, namely:— "(ia) | in respect of monies borrowed by it from a source outside India by way of issue of rupee denominated bond before the 1st day of July, 2020, and".

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