Section 34 - Amendment of section 111A - Finance (No. 2) Act, 2014

Amendment of section 111A 34. In section 111A of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 2015, (A) after the words unit of an equity oriented fund , the words or a unit of a business trust shall be inserted; (B) after the proviso, the following proviso shall be inserted, namely: Provided further that the provisions of this sub-section shall not apply in respect of any income arising from transfer of units of a business trust which were acquired by the assessee in consideration of a transfer as referred to in clause (xvii) of section 47. .