TMI BlogAmendment of section 10.X X X X Extracts X X X X X X X X Extracts X X X X ..... specified in the rules made under section 80DDB, the provisions of this sub-clause shall have effect as if for the words ten per cent ,the words fifteen per cent had been substituted. ; (ii) in Explanation 1, after the words business of the first-mentioned person occurring at the end, the words and includes such policy which has been assigned to a person, at any time during the term of the policy, with or without any consideration shall be inserted; (II) after clause (23D), the following clause shall be inserted with effect from the 1st day of April, 2014, namely: (23DA) any income of a securitisation trust from the activity of securitisation. Explanation. For the purposes of this clause, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... clause, (i) depository shall have the same meaning as assigned to it in clause (e) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996); (ii) regulations means the regulations made under the Securities and Exchange Board of India Act, 1992 (15 of 1992) and the Depositories Act, 1996 (22 of 1996); ; (IV) in clause (23FB), for Explanation 1, the following Explanation shall be substituted, namely: Explanation. For the purposes of this clause, (a) venture capital company means a company which (A) has been granted a certificate of registration, before the 21st day of May, 2012, as a Venture Capital Fund and is r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ered under the provisions of the Registration Act, 1908 (16 of 1908), which (I) has been granted a certificate of registration, before the 21st day of May, 2012, as a Venture Capital Fund and is regulated under the Venture Capital Funds Regulations; or (II) has been granted a certificate of registration as Venture Capital Fund as a sub-category of Category I Alternative Investment Fund under the Alternative Investment Funds Regulations and which fulfils the following conditions, namely: (i) it has invested not less than two-thirds of its investible funds in unlisted equity shares or equity linked instruments of venture capital undertaking; (ii) it h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid trust. Explanation. For the purposes of this clause, the expressions investor and securitisation trust shall have the meanings respectively assigned to them in the Explanation below section 115TC; ; (VII) in clause (48), for the words sale of crude oil to any person , the words sale of crude oil, any other goods or rendering of services, as may be notified by the Central Government in this behalf, to any person shall be substituted with effect from the 1st day of April, 2014; (VIII) after clause (48), the following clause shall be inserted, namely: (49) any income of the National Financial Holdings Company Limited, being a company set up by the Central Government, of any previous year relev ..... X X X X Extracts X X X X X X X X Extracts X X X X
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