Clause 28 - Amendment of section 115ACA - Finance Bill, 2015

Amendment of section 115ACA. 28. In section 115ACA of the Income-tax Act ,after sub-section (3), in the Explanation, in clause (a), with effect from the 1st day of April, 2016, for the words issued to non-resident investors against the issue of ordinary shares or foreign currency convertible bonds of issuing company occuring at the end, the following shall be substituted, namely:- issued to investors against the issue of,- (i) ordinary shares of issuing company, being a company listed on a recognised stock exchange in India; or (ii) foreign currency convertible bonds of issuing company; .