Part IIIAMENDMENT TO THE ELECTION COMMISSION (CONDITIONS OF SERVICE OF ELECTION COMMISSIONERS AND TRANSACTION OF BUSINESS) ACT, 1991 (From Clause 144 )
Investment income redefinition expands to include dividends from foreign exchange assets, altering Chapter XII A treatment going forward. The amendment redefines investment income under Chapter XII A by omitting the exclusion for dividends referred to in section 115 O, so that any income ... Summary
Investment income redefinition expands to include dividends from foreign exchange assets, altering Chapter XII A treatment going forward.
The amendment redefines investment income under Chapter XII A by omitting the exclusion for dividends referred to in section 115 O, so that any income derived from a foreign exchange asset, including such dividends, will constitute investment income; the change operates from the commencement date in the Bill and applies to the relevant subsequent assessment year and onward.
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