The word “Term” explained :
| CLAUSE(S) OF FINANCE BILL, 2017 |
PARTICUL ARS OF AMENDME NTS | SECTION | AMENDMENT / NEWLY INSERTED |
APPLICABLE W.E.F. |
BRIEF OF AMENDMENT |
| 39 and 40 | The word “Term” explained. |
90 & 90A | Explanation 4. Added to section 90 and 90A |
1/4/2018 | For the removal of doubts, it is hereby declared that where any term used in an agreement entered into under sub-section (1) is defined under the said agreement, the said term shall have the same meaning as assigned to it in the agreement; and where the term is not defined in the said agreement, but defined in the Act, it shall have the same meaning as assigned to it in the Act and any explanation given to it by the Central Government Author Note The definition of “Term” as defined in respective Tax Treaty is having an overriding effect over the Act and if not defined in the respective Tax Treaty meaning will be taken from the Act or any Central Govt. explanation. |