Amendment of section 10.

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....p;(II) for the word "assured:", the words "assured; or" shall be substituted;            (ii) after sub-clause (c) and before the first proviso, the following sub-clause shall be inserted, namely:-       "(d) any sum received under an insurance policy issued on or after the 1st day of April, 2012 in respect of which the premium payable for any of the years during the term of the policy exceeds ten per cent. of the actual capital sum assured:";            (iii) in the first proviso, for the words "this sub-clause", the words, brackets and letters "sub-clauses (c) and (d)" shall be substituted;   &....

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....p;(C) in clause (23FB), in Explanation 1, for clause (c), the following clause shall be substituted with effect from the 1st day of April, 2013, namely:-            '(c) "venture capital undertaking" means a venture capital undertaking referred to in the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996 made under the Securities and Exchange Board of India Act, 1992;';       (D) after clause (47), the following clause shall be inserted with effect from the 1st day of April, 2012, namely:- "(48) any income received in India in Indian currency by a foreign company on account of sale of crude oil to any person in India:  &....

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....fect from 1st April, 2013, and will, accordingly, apply in relation to the assessment year 2013-2014 and subsequent assessment years. It is proposed to insert a new proviso after the sixteenth proviso to clause (23C) of the aforesaid section so as to provide that the income of a trust or institution referred to in sub-clause (iv) or sub-clause (v) shall be included in its total income of the previous year if the provisions of the first proviso to clause (15) of section 2 becomes applicable to such trust or institution in the said previous year, whether or not any approval granted or notification issued in respect of such trust or institution has been withdrawn or rescinded. This amendment will take effect retrospectively from 1st Apri....