Definition of capital asset updated; inter-group finance loans excluded from dividend; crypto-asset definition expanded with effective dates. Amendments to section 2 amend: (a) clause (14) to include securities held by an investment fund specified in Explanation 1 to section 115UB within the ... Summary
Definition of capital asset updated; inter-group finance loans excluded from dividend; crypto-asset definition expanded with effective dates.
Amendments to section 2 amend: (a) clause (14) to include securities held by an investment fund specified in Explanation 1 to section 115UB within the definition of capital asset and to make the unit linked insurance policy provision in sub clause (c) applicable without the fourth and fifth provisos (effective 1 April 2026); (b) clause (22) to add sub clause (iia) excluding advances or loans between group entities involving a Finance Company or Finance Unit where the group's parent or principal is listed outside India, with new explanatory definitions (effective 1 April 2025); and (c) clause (47A) to expand virtual digital asset to include crypto assets using distributed ledger technology (effective 1 April 2026).
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