48. In section 94B of the Income-taxAct, with effect from the 1st day ofApril, 2024,—
(i)in sub-section (3), after the words "banking or insurance", the words "or such class of non-banking financial companies as may be notified by the Central Government in the Official Gazette in this behalf" shall be inserted;(ii)in sub-section (5), after clause (ii), the following clause shall be inserted, namely:—'(iia) "non-banking financial company" shall have the meaning assigned to it in clause (vii) of the Explanation to clause (viia) of sub-section (1) of section 36;'.
