Amendment of section 47

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....de India through an intermediary dealing in settlement of securities, by a non-resident to another non-resident. Explanation.--For the purposes of this clause, "Government Security" shall have the meaning assigned to it in clause (b) of section 2 of the Securities Contracts (Regulation) Act, 1956;[ 42 of 1956]'; (b) after clause (xvi), the following shall be inserted, namely:-- '(xvii) any t....

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....of interest, made outside India through an intermediary dealing in settlement of securities, by a non-resident to another non-resident shall not be considered as transfer for the purpose of charging capital gains. It is also proposed to define the term "Government Security". It is further proposed to amend the said section by inserting a new clause (vii) so as to provide that any transfer of a c....