9.
Amendment of section 36.- In section 36 of the Income-tax
Act, in sub-section (1), after clause (xiv), the following
clauses shall be inserted with effect from the 1st day of
April, 2009, namely:-
'(xv) an amount equal to the securities
transaction tax paid by the assessee in respect of the taxable
securities transactions entered into in the course of his
business during the previous year, if the income arising from
such taxable securities transactions is included in the income
computed under the head "Profits and gains of business or
profession''.
Explanation.-For the purposes
of this clause, the expressions "securities transaction tax"
and "taxable securities transaction" shall have the meanings
respectively assigned to them under Chapter VII of the Finance
(No. 2) Act, 2004;
(xvi) an amount equal to the commodities
transaction tax paid by the assessee in respect of the taxable
commodities transactions entered into in the course of his
business during the previous year, if the income arising from
such taxable commodities transactions is included in the income
computed under the head "Profits and gains of business or
profession''.
Explanation.-For the purposes
of this clause, the expressions "commodities transaction tax"
and "taxable commodities transaction" shall have the meanings
respectively assigned to them under Chapter VII of the Finance
Act, 2008.'. |
