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TMI BlogAmendment of section 10X X X X Extracts X X X X X X X X Extracts X X X X ..... ll be inserted, namely:- (23EE) any specified income of such Core Settlement Guarantee Fund, set up by a recognised clearing corporation in accordance with the regulations, as the Central Government may, by notification in the Official Gazette, specify in this behalf: Provided that where any amount standing to the credit of the Fund and not charged to income-tax during any previous year is shared, either wholly or in part with the specified person, the whole of the amount so shared shall be deemed to be the income of the previous year in which such amount is so shared and shall, accordingly, be chargeable to income-tax. Explanation.-For the purposes of this clause,- (i) recognised clearing corporation shall have the same meaning as assigned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an investment fund other than the income chargeable under the head Profits and gains of business or profession ; (23FBB) any income referred to in section 115UB, accruing or arising to, or received by, a unit holder of an investment fund, being that proportion of income which is of the same nature as income chargeable under the head Profits and gains of business or profession . Explanation.-For the purposes of clauses (23FBA) and (23FBB), the expression investment fund shall have the meaning assigned to it in clause (a) of the Explanation 1 to section 115UB; ; (d) after clause (23FC), the following clause shall be inserted, namely:- (23FCA) any income of a business trust, being a real estate investment trust, by way of renting or leasing or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es (iiiaa) and (iiiaaa) so as to exempt income received by any person on behalf of the Swachh Bharat Kosh, set up by the Central Government and to exempt income received by any person on behalf of the Clean Ganga Fund, set up by the Central Government. These amendments will take effect retrospectively from 1st of April, 2015 and accordingly apply in realtion to assessment year 2015-16 and subsequent assessment years. It is also proposed to insert a new clause (23EE) in the aforesaid section so as to provide for exemption in respect of any specified income of such Core Settlement Guarantee Fund, set up by a recognised clearing corporation in accordance with the regulations, as the Central Government may, by notification in the Official Gazet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd (23FD) of the said section to provide that any distributed income, referred to in section 115UA, received by a unit holder from the business trust, being that proportion of the income which is of the same nature as income by way of renting or leasing or letting out any real estate asset owned directly by the business trust, shall be included in total income and not be exempted. It is also proposed to amend clause (38) of the said section to provide that any income in the nature of long term capital gain arising from transfer of units of a business trust which were acquired in consideration of exchange of shares of a special purpose vehicle and on which securities transaction tax has been paid shall not be included in the total income of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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