Amendment of section 47

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..... India through an intermediary dealing in settlement of securities, by a non-resident to another non-resident. Explanation. For the purposes of this clause, Government Security shall have the meaning assigned to it in clause (b) of section 2 of the Securities Contracts (Regulation) Act, 1956;[ 42 of 1956] ; (b) after clause (xvi), the following shall be inserted, namely: (xvii) any transfer of a ca .....

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..... ndia through an intermediary dealing in settlement of securities, by a non-resident to another non-resident shall not be considered as transfer for the purpose of charging capital gains. It is also proposed to define the term Government Security . It is further proposed to amend the said section by inserting a new clause (vii) so as to provide that any transfer of a capital asset, being share of a .....

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