Explanation of Capital Assets

Insertion of new explanation in the definition of Capital Assets [Section 2(14)] [w.e.f. A.Y. 2015-16]

The Explanation occurring at the end shall be numbered as "Explanation 1" thereof and after the

Explanation as so numbered, the following Explanation shall be inserted, namely:—

Explanation 2.—For the purposes of this clause—

(a)   the expression "Foreign Institutional Investor" shall have the meaning assigned to it in clause

(a) of the Explanation to section 115AD;

(b)   the expression "securities" shall have the meaning assigned to it in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956;

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