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of <h1>Amendment to Finance Bill 2020: Section 115C to Include Dividends in 'Investment Income' Definition Starting April 2021.</h1> Clause 55 of the Finance Bill, 2020, proposes an amendment to section 115C of the Income-tax Act, which relates to definitions within Chapter XII-A. Specifically, it seeks to modify clause (c) by removing the exclusion of dividends referred to in section 115-O from the definition of 'investment income.' As a result, 'investment income' will encompass any income derived from a foreign exchange asset, without excluding such dividends. This change will be effective from April 1, 2021, and will apply to the assessment year 2021-2022 and subsequent years.
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