9911796707
TMI BlogAmendment of section 10.X X X X Extracts X X X X X X X X Extracts X X X X ..... nge Board of India (Foreign Portfolio Investors) Regulations, 2019 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992.);'; (c) in clause (4F), for the figures "2025", the figures "2030" shall be substituted; (d) in clause (4H),-- (i) in the opening portion,-- (A) for the word "aircraft" at both the places where it occurs, the words "aircraft or a ship" shall be substituted; (B) for the figures "2026", the figures "2030" shall be substituted; (ii) for the Explanation, the following Explanation shall be substituted, namely:-- 'Explanation.--For the purposes of this clause,- (a) "aircraft" means an aircraft or a helicopter, or an engine of an aircraft or a helicopter, or any part thereof; (b) "ship" mea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cent. of the amount of contributions made by him;"; (g) in clause (23FE),-- (i) in the opening portion, after the words "long-term capital gains", the brackets, words, figures and letters "(whether or not such capital gains are deemed as short-term capital gains under section 50AA)" shall be inserted; (ii) in sub-clause (i), for the figures "2025", the figures "2030" shall be substituted; (h) in clause (34B),-- (i) for the word "aircraft" at both the places where it occurs, the words "aircraft or a ship" shall be substituted; (ii) for the Explanation, the following Explanation shall be substituted, namely:-- 'Explanation.--For the purposes of this clause,-- (a) "aircraft" means an aircraft or a helicopter, or an engine of an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... further proposed to insert an Explanation to the said clause to define the expression "Foreign Portfolio Investor" to mean a person registered as per the provisions of the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019 made under the Securities and Exchange Board of India Act, 1992. These amendments will take effect from 1st April, 2026 and will, accordingly, apply in relation to the assessment year 2026-2027 and subsequent assessment years. It is also proposed to amend clause (4F) of the said section so as to extend the date of commencement of operations specified therein from 31st March, 2025 to 31st March, 2030. It is also proposed to amend clause (4H) of the said section so as to extend the da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e International Financial Services Centres Authority (Insurance Intermediary) Regulations, 2021, made under the International Financial Services Centres Authority Act, 2019. These amendments will take effect from 1st April, 2025. It is also proposed to insert a new clause (12BA) in the said section so as to provide that any payment from the National Pension System Trust to an assessee, being the parent or guardian of a minor, under the pension scheme referred to in section 80CCD, on partial withdrawal made out of the account of the minor, as per the terms and conditions, specified under the Pension Fund Regulatory and Development Authority Act, 2013 and the regulations made thereunder, to the extent it does not exceed twenty-five per cent ..... X X X X Extracts X X X X X X X X Extracts X X X X
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