TaxTMI 
TaxTMI 
Amendment of section 2.
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....vestment fund specified in clause (a) of Explanation 1 to section 115UB" shall be inserted; (ii) in sub-clause (c), the words "on account of the applicability of the fourth and fifth provisos thereof" shall be omitted; (b) in clause (22),-- (i) in the long line, after sub-clause (ii), the following sub-clause shall be inserted, namely:-- '(iia) any advance or loan between two group entities,....
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....inance Unit, is set up as a global or regional corporate treasury centre for undertaking treasury activities or treasury services as per the relevant regulations made by the International Financial Services Centres Authority established under section 4 of the said Act; (d) "group entity", "parent entity" and "principal entity" shall be such entities which satisfy such conditions as prescribed in....
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.... Exchange Board of India Act, 1992. Further, sub-clause (c) of the said clause, provides that capital asset means any unit linked insurance policy to which exemption under clause (10D) of section 10 does not apply on account of the applicability of the fourth and fifth provisos thereof. It is proposed to amend sub-clause (b) of the said clause so as to insert the expression "or held by an investm....
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....e beneficial owner of shares (not being shares entitled to a fixed rate of dividend whether with or without a right to participate in profits) holding not less than ten per cent. of the voting power, or to any concern in which such shareholder is a member or a partner and in which he has a substantial interest (hereafter in this clause referred to as the said concern) or any payment by any such co....