Amendment of section 115AD.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... shall be inserted; (b) in clause (b), in sub-clause (i), in item (B), after the words of specified fund , the words or investment division of an offshore banking unit shall be inserted; (ii) after sub-section (1A), the following sub-section shall be inserted, namely: (1B) Notwithstanding anything contained in sub-section (1), in case of investment division of an offshore banking un .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sion investment division of offshore banking unit shall have the meaning assigned to it in clause (aa) of the Explanation to clause (4D) of section 10; . - Clause 30 of the Bill seeks to amend section 115AD of the Income-tax Act relating to tax on income of Specified Fund or Foreign Institutional Investors from securities or capital gains arising from their transfer. It is proposed to amen .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s And Exchange Board of India Act, 1992, calculated in the prescribed manner. It is also proposed to define the expression investment division of an offshore banking unit . These amendments will take effect from 1st April, 2022 and will, accordingly, apply in relation to the assessment year 2022-2023 and subsequent assessment years. - statute, statutory provisions legislation, law, enact .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X