Amendment of section 2.

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..... moval of doubts, it is hereby clarified that property includes and shall be deemed to have always included any rights in or in relation to an Indian company, including rights of management or control or any other rights whatsoever; ; (ii) in clause (16), after the words, Commissioner of Income-tax , the words or a Director of Income-tax shall be inserted and shall be deemed to have been inserted w .....

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..... ny manner whatsoever, directly or indirectly, absolutely or conditionally, voluntarily or involuntarily, by way of an agreement (whether entered into in India or outside India) or otherwise, notwithstanding that such transfer of rights has been characterised as being effected or dependent upon or flowing from the transfer of a share or shares of a company registered or incorporated outside India; .....

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..... d company where resulting company itself in a scheme of demerger is a shareholder of the demerged company. This amendment will take effect from 1st April, 2013 and will, accordingly, apply in relation to the assessment year 2013-2014 and subsequent assessment years. It is also proposed to insert a new Explanation in clause (47) of the aforesaid section so as to clarify the expression transfer . Th .....

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