Specified person substitution clarifies scope by replacing 'trust or institution' and adding a cross referenced definition. The amendment substitutes the words "specified person" for "trust or institution" in section 115TE, including its marginal heading and all textual ... Summary
Specified person substitution clarifies scope by replacing 'trust or institution' and adding a cross referenced definition.
The amendment substitutes the words "specified person" for "trust or institution" in section 115TE, including its marginal heading and all textual occurrences, and inserts an Explanation that defines "specified person" by reference to clause (iia) of the Explanation to section 115TD, thereby aligning the provision's terminology and definitional scope.
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