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Amendment of section 115JB

Section 30 - Act - DIRECT TAXES - Income-tax - Finance Act - Section 30 - 30. In section 115JB of the Income-tax Act, in the Explanation 1 below sub-section (2), with effect from the 1st day of April, 2016,- (a) after clause (f), the following clause .....

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isions of section 86; or ' "(fb) the amount or amounts of expenditure relatable to income accruing or arising to an assessee, being a foreign company, from,- (A) the capital gains arising on transactions in securities; or (B) the interest, r .....

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an the rate specified in sub-section (1); or (fc) the amount representing notional loss on transfer of a capital asset, being share of a special purpose vehicle to a business trust in exchange of units allotted by the trust referred to in clause (xvi .....

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clause shall be inserted, namely:- "(k) the amount of gain on transfer of units referred to in clause (xvii) of section 47 computed by taking into account the cost of the shares exchanged with units referred to in the said clause or the carrying .....

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) the amount of income, being the share of the assessee in the income of an association of persons or body of individuals, on which no income-tax is payable in accordance with the provisions of section 86, if any, such amount is credited to the profi .....

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le to tax at the rate or rates specified in Chapter XII, if such income is credited to the profit and loss account and the income-tax payable thereon in accordance with the provisions of this Act, other than the provisions of this Chapter, is at a ra .....

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