In section 44DB of the Income-tax Act,--(a)in sub-section (3), after the words “successor cooperative bank”, the words “or to the converted banking company” shall be inserted;(b)in sub-section (4), after the words “a successor cooperative bank”, and the words “the successor co-operative bank” the words “or to a converted banking company” and the words “or to the converted banking company” shall, respectively, be inserted;(c)in sub-section (5),––(i)after clause (c), the following clause shall be inserted, namely:––‘(ca) "banking company" shall have the meaning assigned to it in clause (c) of section 5 of Banking Regulation Act, 1949;’;(ii)in clause (d), after the words “a co-operative bank”, the words “or conversion of a primary cooperative bank” shall be inserted;(iii)after clause (d), the following clauses shall be inserted, namely:––‘(da) “conversion” means transition of a primary co-operative bank to a banking company under the scheme of the Reserve Bank of India as notified vide its circular number DCBR. CO. LS. PCB. Cir. No. 5/07.01.000/2018-19, dated the 27th September, 2018; (db) “converted banking company” means a banking company formed as a result of conversion from primary co-operative bank;’ ;(iv)in clause (h), after the words “the demerged cooperative bank”, the words “or the primary co-operative bank which has been succeeded as a result of conversion” shall be inserted;(v)after clause (h), the following clause shall be inserted, namely:––‘(ha) “primary co-operative bank” shall have the meaning assigned to it in clause (ccv) of section 5 of the Banking Regulation Act, 1949;’.
