Broaden the tax exemption


Broaden the tax exemption

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Income Tax
Broaden the tax exemption base under section 10(38)

  Broaden the tax exemption base under section 10(38)

 

 

(i)     after the words "unit of an equity oriented fund", the words "or a unit of a business trust" shall be inserted;

 

(ii)    after the proviso but before the Explanation, the following proviso shall be inserted, namely:

 

Provided further that the provisions of this clause shall not apply in respect of any income arising from transfer of units of a business trust which were acquired in consideration of a transfer referred to in clause (xvii) of section 47.

 

 

 

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