Amendment of section 194LBA.
59. In section 194LC of the Income-tax Act, with effect from the 1st day of October, 2014,—
| (A) |
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in sub-section (1), after the words "by a specified company", the words "or a business trust" shall be inserted; |
| (B) |
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in sub-section (2),— |
| (a) |
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in the opening portion, after the words "by the specified company", the words "or the business trust" shall be inserted; |
| (b) |
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for clause (i), the following clause shall be substituted, namely:— |
| "(i) |
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in respect of monies borrowed by it in foreign currency from a source outside India,— |
| (a) |
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under a loan agreement at any time on or after the 1st day of July, 2012 but before the 1st day of July, 2017; or |
| (b) |
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by way of issue of long-term infrastructure bonds at any time on or after the 1st day of July, 2012 but before the 1st day of October, 2014; or |
| (c) |
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by way of issue of any long-term bond including long-term infrastructure bond at any time on or after the 1st day of October, 2014 but before the 1st day of July, 2017, |
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as approved by the Central Government in this behalf; and". |
