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of <h1>Finance Bill 2015: Amendment to Section 97 Clarifies Tax on Business Trust Units in Real Estate and Infrastructure.</h1> Clause 180 of the Finance Bill, 2015 amends section 97 of the Finance (No.2) Act, 2004, effective June 1, 2015. It introduces clause (5AA), defining 'initial offer' for real estate and infrastructure investment trusts as per the Securities and Exchange Board of India regulations. Additionally, it includes a provision in clause (13) that considers the sale of unlisted business trust units, acquired through specific transfers and later listed on a stock exchange, as taxable securities transactions. This amendment aims to clarify the tax implications for transactions involving business trust units.
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