Section 26 - Amendment of section 196B - Finance Act, 1993

26. Amendment of section 196B In section 196B of the Income-tax Act, in the opening portion, for the words, figures and letters where any income is payable in respect of units referred to in section 115AB to an Offshore Fund , the following shall be substituted with effect from the 1st day of June, 1993, namely :- Where any income in respect of units referred to in section 115AB or by way of long-term capital gains arising from the transfer of such units is payable to an Offshore Fund.