Amendment of section 37
In section 37 of the Income-tax Act, in sub-section (1), in Explanation 3, in clause (iii), for the words “outside India.”, the following shall be substituted with effect from the 1st day of April, 2025, namely:—
“outside India; or
(iv) to settle proceedings initiated in relation to contravention under such law as may be notified by the Central Government in the Official Gazette in this behalf.”.
