Amendment of section 101.
183. In section 101 of the 2004 Act, in sub-section (1),-
(A) after the words “an initial public offer”, the words “or an initial offer” shall be inserted;
(B) for the words ‘‘ being sale of units to such Mutual Fund during such financial year’’ occuring at the end, the words ‘‘during such financial year, being sale of units to such Mutual Fund or sale of unlisted shares under an intial public offer or sale of unlisted units of business trust under an intial offer, in respect of which such lead merchant banker is appointed’’ shall be substituted.
Notes on Clauses:
Clause 183 of the Bill seeks to amend section 101 of the 2004 Act to provide that every stock exchange or the lead merchant banker in the case of an initial offer shall, within the prescribed time after the end of each financial year, prepare and deliver or cause to be delivered to the Assessing Officer or to any other authority or agency authorised by the Board on this behalf, a return in such form and setting forth such particular as may be prescribed, in respect of all taxable securities transaction entered into during such financial year in that stock exchange.
These amendments will take effect from 1st June, 2015.
