PART XVI
AMENDMENT TO THE FINANCE (NO.2) ACT, 2004
214. Amendment of Act 23 of 2004.
In section 97 of the Finance (No.2) Act, 2004 (23 of 2004), for clause (5), with effect from the 1st day of April, 2018, the following clause shall be substituted, namely:-
‘(5) ‘‘equity oriented fund’’ means a fund referred to in clause (a) of Explanation to section 112A of Income-tax Act, 1961 (43 of 1961 ).’.
Notes on Clauses:
Clause 214 of the Bill seeks to amend section 97 of the Finance (No.2) Act, 2004 relating to definitions.
The existing provisions of said section 97, inter alia, provides the definition of "equity oriented fund".
It is proposed to amend the said clause so as to define “equity oriented fund” as a fund referred to in clause (a) of Explanation to section 112A of the Income-tax Act.
This amendment will take effect from 1st April, 2018.
