Definition of securities expanded to include derivatives and other notified instruments within the tax transfer provision. The amendment substitutes the sub-clause to include 'derivative' and 'such other securities as may be notified by the Central Government' and inserts an Explanation adopting the meaning of 'securities' from clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956, thereby clarifying which instruments are treated as securities under the provision.
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Definition of securities expanded to include derivatives and other notified instruments within the tax transfer provision.
The amendment substitutes the sub-clause to include "derivative" and "such other securities as may be notified by the Central Government" and inserts an Explanation adopting the meaning of "securities" from clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956, thereby clarifying which instruments are treated as securities under the provision.
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