Section 44 - Amendment of Section 115BBDA. - Finance Act, 2017

Amendment of Section 115BBDA. 44. In section 115BBDA of the Income-tax Act [as inserted by section 52 of the Finance Act, 2016], (28 of 2016.) with effect from the 1st day of April, 2018,- (i) in sub-section (1), for the words an assessee, being an individual, a Hindu undivided family or a firm , the words a specified assessee shall be substituted; (ii) for sub-section (3), the following Explanation shall be substituted, namely:- Explanation . For the purposes of this section,- (a) dividend shall have the meaning assigned to it in clause (22) of section 2 but shall not include sub-clause (e) thereof; (b) specified assessee means a person other than,- (i) a domestic company; or (ii) a fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; or (iii) a trust or institution registered under section 12A or section 12AA. .