Amendment of section 115AD.

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....ing unit" shall be inserted; (b) in clause (b), in sub-clause (i), in item (B), after the words "of specified fund", the words "or investment division of an offshore banking unit" shall be inserted; (ii) after sub-section (1A), the following sub-section shall be inserted, namely:-- "(1B) Notwithstanding anything contained in sub-section (1), in case of investment division of a....

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....- "(aa) the expression "investment division of offshore banking unit" shall have the meaning assigned to it in clause (aa) of the Explanation to clause (4D) of section 10;". - Clause 30 of the Bill seeks to amend section 115AD of the Income-tax Act relating to tax on income of Specified Fund or Foreign Institutional Investors from securities or capital gains arising from their transf....