Amendment of section 194C
In section 194C of the Income-tax Act, in the Explanation, in clause (iv), for the long line, the following long line shall be substituted with effect from the 1st day of October, 2024, namely:—
“but does not include—
| (A) | manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from a person, other than such customer or associate of such customer; or | |
| (B) | any sum referred to in sub-section (1) of section 194J.”. |