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        F. Acts / Amendment Acts

        Section 26 - Amendment of section 196B

        Finance Act, 1993
        Chapter III
        DIRECT TAX
        INCOME-TAX

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        Inclusion of long-term capital gains extends withholding to payments to offshore funds for specified investment units. Amendment expands section 196B to include income in respect of specified investment units and long-term capital gains arising from transfer of those units when payable to an Offshore Fund, thereby extending the withholding scope to both types of payments.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Inclusion of long-term capital gains extends withholding to payments to offshore funds for specified investment units.

                                Amendment expands section 196B to include income in respect of specified investment units and long-term capital gains arising from transfer of those units when payable to an Offshore Fund, thereby extending the withholding scope to both types of payments.


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