{"id":260159,"date":"2022-01-15T10:30:05","date_gmt":"2022-01-15T05:00:05","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=260159"},"modified":"2022-01-15T10:24:37","modified_gmt":"2022-01-15T04:54:37","slug":"provision-for-computation-of-income-of-specified-fund-attributable-to-investment-division-of-an-offshore-banking-unit-introduced-vide-income-tax-1st-amendment-rules-2022","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/01\/15\/provision-for-computation-of-income-of-specified-fund-attributable-to-investment-division-of-an-offshore-banking-unit-introduced-vide-income-tax-1st-amendment-rules-2022\/","title":{"rendered":"Provision for computation of income of specified fund, attributable to investment division of an offshore banking unit introduced vide Income tax (1st Amendment), Rules, 2022"},"content":{"rendered":"<p><span id=\"page11R_mcid185\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">On January 14, 2022, the Central Board <\/span><\/span><span id=\"page11R_mcid186\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">of Direct taxes notifies <\/span><\/span><span id=\"page11R_mcid187\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">the <span id=\"page11R_mcid201\" class=\"markedContent\">Income tax<\/span><span id=\"page11R_mcid202\" class=\"markedContent\"> (<\/span><span id=\"page11R_mcid203\" class=\"markedContent\">1<\/span><span id=\"page11R_mcid204\" class=\"markedContent\">st<\/span><span id=\"page11R_mcid205\" class=\"markedContent\"><\/span><span id=\"page11R_mcid206\" class=\"markedContent\"> Amendment<\/span><span id=\"page11R_mcid207\" class=\"markedContent\">)<\/span><span id=\"page11R_mcid208\" class=\"markedContent\"><\/span><span id=\"page11R_mcid209\" class=\"markedContent\"> , Rules<\/span> further to amend the Income<\/span><\/span><span id=\"page11R_mcid188\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page11R_mcid189\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">tax Rules,1962.<\/span><\/span><span id=\"page11R_mcid214\" class=\"markedContent\"><\/span><span id=\"page11R_mcid217\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\"> They will come into force from <\/span><\/span><span id=\"page11R_mcid220\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">April 01, 2022.<\/span><\/span><span id=\"page11R_mcid221\" class=\"markedContent\"><\/span><\/p>\n<p>&nbsp;<\/p>\n<p>Key Features:<\/p>\n<ul>\n<li>Provision relating to <strong><span id=\"page11R_mcid242\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">Computation of exempt income of specified fund,<\/span><\/span><span id=\"page11R_mcid243\" class=\"markedContent\"><\/span><span id=\"page11R_mcid244\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">attributable to the<\/span><\/span><span id=\"page11R_mcid245\" class=\"markedContent\"><\/span><span id=\"page11R_mcid246\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">investment division of <\/span><\/span><span id=\"page11R_mcid247\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">an offshore banking unit, for the purposes of clause<\/span><\/span><span id=\"page11R_mcid248\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page11R_mcid249\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">4D<\/span><\/span><span id=\"page11R_mcid250\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page11R_mcid251\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of section 10 of the Act<\/span><\/span><\/strong> has been introduced. The provision specifies a formula for the computation. <span id=\"page11R_mcid226\" class=\"markedContent\"><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 40px; text-align: justify;\"><span id=\"page11R_mcid239\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">&#8220;<\/span><\/span><strong><span id=\"page11R_mcid240\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">21AJA<\/span><\/span><span id=\"page11R_mcid241\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">.<\/span><\/span><span id=\"page11R_mcid242\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">Computation of exempt income of specified fund,<\/span><\/span><span id=\"page11R_mcid243\" class=\"markedContent\"><\/span><span id=\"page11R_mcid244\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">attributable to the<\/span><\/span><span id=\"page11R_mcid245\" class=\"markedContent\"><\/span><span id=\"page11R_mcid246\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">investment division of <\/span><\/span><span id=\"page11R_mcid247\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">an offshore banking unit, for the purposes of clause<\/span><\/span><span id=\"page11R_mcid248\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page11R_mcid249\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">4D<\/span><\/span><span id=\"page11R_mcid250\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page11R_mcid251\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of section 10 of the Act<\/span><\/span><\/strong><span id=\"page11R_mcid252\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page11R_mcid253\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page11R_mcid254\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">1<\/span><\/span><span id=\"page11R_mcid255\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page11R_mcid256\" class=\"markedContent\"><\/span><span id=\"page11R_mcid257\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">For the purposes <\/span><\/span><span id=\"page11R_mcid258\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">of clause<\/span><\/span><span id=\"page11R_mcid259\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page11R_mcid260\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">4D<\/span><\/span><span id=\"page11R_mcid261\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page11R_mcid262\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of section 10<\/span><\/span><span id=\"page11R_mcid263\" class=\"markedContent\"><\/span><span id=\"page11R_mcid264\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of the Act<\/span><\/span><span id=\"page11R_mcid265\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">, income of specified fund attributable to the investment division of <\/span><\/span><span id=\"page11R_mcid266\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">an offshore banking unit shall be computed in accordance with the following formula, namely<\/span><\/span>:<\/p>\n<p style=\"padding-left: 40px; text-align: justify;\"><span id=\"page11R_mcid272\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">A<\/span><\/span><span id=\"page11R_mcid273\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">+<\/span><\/span><span id=\"page11R_mcid274\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">B<\/span><\/span><span id=\"page11R_mcid275\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">+<\/span><\/span><span id=\"page11R_mcid276\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">C<\/span><\/span><span id=\"page11R_mcid277\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">+<\/span><\/span><span id=\"page11R_mcid278\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">D<\/span><\/span><span id=\"page11R_mcid279\" class=\"markedContent\"><\/span><span id=\"page11R_mcid280\" class=\"markedContent\"><\/span><span id=\"page11R_mcid281\" class=\"markedContent\"><\/span><span id=\"page11R_mcid282\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">where ,<\/span><\/span><span id=\"page11R_mcid283\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">\u2212<\/span><\/span><span id=\"page11R_mcid284\" class=\"markedContent\"><\/span><span id=\"page11R_mcid285\" class=\"markedContent\"><\/span><span id=\"page11R_mcid286\" class=\"markedContent\"><\/span><span id=\"page11R_mcid287\" class=\"markedContent\"><\/span><span id=\"page11R_mcid288\" class=\"markedContent\"><\/span><span id=\"page11R_mcid289\" class=\"markedContent\"><\/span><span id=\"page11R_mcid290\" class=\"markedContent\"><\/span><span id=\"page11R_mcid291\" class=\"markedContent\"><\/span><span id=\"page11R_mcid292\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">A<\/span><\/span><span id=\"page11R_mcid293\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">=<\/span><\/span><span id=\"page11R_mcid294\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">any income accrued or arisen to, or received by the<\/span><\/span><span id=\"page11R_mcid295\" class=\"markedContent\"><\/span><span id=\"page11R_mcid296\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">eligible investment<\/span><\/span><span id=\"page11R_mcid297\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">division as a result of transfer <\/span><\/span><span id=\"page11R_mcid298\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">of a capital asset referred to in clause<\/span><\/span><span id=\"page11R_mcid299\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page11R_mcid300\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">viiab<\/span><\/span><span id=\"page11R_mcid301\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page11R_mcid302\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of section 47 of the Act held by it, on a recognised stock <\/span><\/span><span id=\"page11R_mcid303\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">exchange located in any International Financial Services Centre and where the consideration for such <\/span><\/span><span id=\"page11R_mcid304\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">transaction is<\/span><\/span><span id=\"page11R_mcid305\" class=\"markedContent\"><\/span><span id=\"page11R_mcid306\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">paid or payable in convertible foreign exchange;<\/span><\/span><span id=\"page11R_mcid307\" class=\"markedContent\"><\/span><span id=\"page11R_mcid308\" class=\"markedContent\"><\/span><span id=\"page11R_mcid309\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">B<\/span><\/span><span id=\"page11R_mcid310\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">=<\/span><\/span><span id=\"page11R_mcid311\" class=\"markedContent\"><\/span><span id=\"page11R_mcid312\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">any income accrued or arisen to, or received by the eligible investment division as a result of transfer <\/span><\/span><span id=\"page11R_mcid313\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">of securities held by it<\/span><\/span><span id=\"page11R_mcid314\" class=\"markedContent\"><\/span><span id=\"page11R_mcid315\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page11R_mcid316\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">other than shares in a company resident in India<\/span><\/span><span id=\"page11R_mcid317\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page11R_mcid318\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">;<\/span><\/span><\/p>\n<p style=\"padding-left: 40px; text-align: justify;\"><span id=\"page16R_mcid1\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">C<\/span><\/span><span id=\"page16R_mcid2\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">=<\/span><\/span><span id=\"page16R_mcid3\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">any income accru<\/span><\/span><span id=\"page16R_mcid4\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">ed or arisen to, or received by the eligible investment division from securities held by <\/span><\/span><span id=\"page16R_mcid5\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">it and issued by a non<\/span><\/span><span id=\"page16R_mcid6\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page16R_mcid7\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">resident<\/span><\/span><span id=\"page16R_mcid8\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page16R_mcid9\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">not being a permanent establishment of a non<\/span><\/span><span id=\"page16R_mcid10\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page16R_mcid11\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">resident in India<\/span><\/span><span id=\"page16R_mcid12\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page16R_mcid13\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">and where <\/span><\/span><span id=\"page16R_mcid14\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">such income otherwise does not accrue or arise in India;<\/span><\/span><span id=\"page16R_mcid15\" class=\"markedContent\"><\/span><span id=\"page16R_mcid16\" class=\"markedContent\"><\/span><span id=\"page16R_mcid17\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">D<\/span><\/span><span id=\"page16R_mcid18\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">=<\/span><\/span><span id=\"page16R_mcid19\" class=\"markedContent\"><\/span><span id=\"page16R_mcid20\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">any income accrued or arisen to, or received by the eligible investment division from a securitisation <\/span><\/span><span id=\"page16R_mcid21\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">trust which is chargeable under the head<\/span><\/span><span id=\"page16R_mcid22\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">&#8220;<\/span><\/span><span id=\"page16R_mcid23\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">profits and gains of business or profession<\/span><\/span><span id=\"page16R_mcid24\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">\u201d.<\/span><\/span><span id=\"page16R_mcid25\" class=\"markedContent\"><\/span><span id=\"page16R_mcid26\" class=\"markedContent\"><\/span><span id=\"page16R_mcid27\" class=\"markedContent\"><br role=\"presentation\" \/><\/span><span id=\"page16R_mcid41\" class=\"markedContent\"><br role=\"presentation\" \/><\/span><span id=\"page16R_mcid216\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\"><br \/>\n<\/span><\/span><\/p>\n<ul>\n<li><span id=\"page18R_mcid55\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">Provision relating to &#8216;<\/span><\/span><strong><span id=\"page18R_mcid57\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">Determination of income of a specified fund attributable to the investment<\/span><\/span><span id=\"page18R_mcid58\" class=\"markedContent\"><\/span><span id=\"page18R_mcid59\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">division of an<\/span><\/span><span id=\"page18R_mcid60\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">offshore banking unit under sub<\/span><\/span><span id=\"page18R_mcid61\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page18R_mcid62\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section<\/span><\/span><span id=\"page18R_mcid63\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid64\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">1B<\/span><\/span><span id=\"page18R_mcid65\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><\/strong><span id=\"page18R_mcid66\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\"><strong>of section 115AD of the Act<\/strong>&#8216; has been introduced. <\/span><\/span><span id=\"page18R_mcid67\" class=\"markedContent\"><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><strong><span id=\"page18R_mcid55\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">21AJAA<\/span><\/span><span id=\"page18R_mcid56\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">.<\/span><\/span><span id=\"page18R_mcid57\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">Determination of income of a specified fund attributable to the investment<\/span><\/span><span id=\"page18R_mcid58\" class=\"markedContent\"><\/span><span id=\"page18R_mcid59\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">division of an<\/span><\/span><span id=\"page18R_mcid60\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">offshore banking unit under sub<\/span><\/span><span id=\"page18R_mcid61\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page18R_mcid62\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section<\/span><\/span><span id=\"page18R_mcid63\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid64\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">1B<\/span><\/span><span id=\"page18R_mcid65\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid66\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of section 115AD of the Act<\/span><\/span><\/strong><span id=\"page18R_mcid67\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page18R_mcid68\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid69\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">1<\/span><\/span><span id=\"page18R_mcid70\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid71\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">For the purposes of sub<\/span><\/span><span id=\"page18R_mcid72\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211; <\/span><\/span><span id=\"page18R_mcid73\" class=\"markedContent\"><\/span><span id=\"page18R_mcid74\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section<\/span><\/span><span id=\"page18R_mcid75\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid76\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">1B<\/span><\/span><span id=\"page18R_mcid77\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid78\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of section 115AD<\/span><\/span><span id=\"page18R_mcid79\" class=\"markedContent\"><\/span><span id=\"page18R_mcid80\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of the Act<\/span><\/span><span id=\"page18R_mcid81\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">, income of a specified fund,<\/span><\/span><span id=\"page18R_mcid82\" class=\"markedContent\"><\/span><span id=\"page18R_mcid83\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">being the investment division of an <\/span><\/span><span id=\"page18R_mcid84\" class=\"markedContent\"><\/span><span id=\"page18R_mcid85\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">offshore banking unit shall be<\/span><\/span><span id=\"page18R_mcid86\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">computed in accordance with the following formula, namely<\/span><\/span><span id=\"page18R_mcid87\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">:<\/span><\/span><span id=\"page18R_mcid88\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page18R_mcid89\" class=\"markedContent\"><\/span><span id=\"page18R_mcid90\" class=\"markedContent\"><\/span><span id=\"page18R_mcid91\" class=\"markedContent\"><br role=\"presentation\" \/><\/span><\/p>\n<p style=\"padding-left: 40px; text-align: justify;\"><span id=\"page18R_mcid91\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">A<\/span><\/span><span id=\"page18R_mcid92\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">+<\/span><\/span><span id=\"page18R_mcid93\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">B<\/span><\/span><span id=\"page18R_mcid94\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">+<\/span><\/span><span id=\"page18R_mcid95\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">C<\/span><\/span><span id=\"page18R_mcid96\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">+<\/span><\/span><span id=\"page18R_mcid97\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">D<\/span><\/span><span id=\"page18R_mcid98\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">+<\/span><\/span><span id=\"page18R_mcid99\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">E<\/span><\/span><span id=\"page18R_mcid100\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">+<\/span><\/span><span id=\"page18R_mcid101\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">F<\/span><\/span><span id=\"page18R_mcid102\" class=\"markedContent\"><\/span><span id=\"page18R_mcid103\" class=\"markedContent\"><\/span><span id=\"page18R_mcid104\" class=\"markedContent\"><\/span><span id=\"page18R_mcid105\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">where,<\/span><\/span><span id=\"page18R_mcid106\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">\u2212<\/span><\/span><span id=\"page18R_mcid107\" class=\"markedContent\"><\/span><span id=\"page18R_mcid108\" class=\"markedContent\"><\/span><span id=\"page18R_mcid109\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">A<\/span><\/span><span id=\"page18R_mcid110\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">=<\/span><\/span><span id=\"page18R_mcid111\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">income by way of<\/span><\/span><span id=\"page18R_mcid112\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">long term capital gain referred to in clause<\/span><\/span><span id=\"page18R_mcid113\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid114\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">b<\/span><\/span><span id=\"page18R_mcid115\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid116\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of sub<\/span><\/span><span id=\"page18R_mcid117\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page18R_mcid118\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section<\/span><\/span><span id=\"page18R_mcid119\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid120\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">1<\/span><\/span><span id=\"page18R_mcid121\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid122\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of section 115AD, <\/span><\/span><span id=\"page18R_mcid123\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">accrued or arisen to, or received by<\/span><\/span><span id=\"page18R_mcid124\" class=\"markedContent\"><\/span><span id=\"page18R_mcid125\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">the eligible<\/span><\/span><span id=\"page18R_mcid126\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">investment divis<\/span><\/span><span id=\"page18R_mcid127\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">ion<\/span><\/span><span id=\"page18R_mcid128\" class=\"markedContent\"><\/span><span id=\"page18R_mcid129\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">,<\/span><\/span><span id=\"page18R_mcid130\" class=\"markedContent\"><\/span><span id=\"page18R_mcid131\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">as a result of transfer of<\/span> <span dir=\"ltr\" role=\"presentation\">a security <\/span><\/span><span id=\"page18R_mcid132\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">referred to in section 112A of the Act and held by such investment division<\/span><\/span><span id=\"page18R_mcid133\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">;<\/span><\/span><span id=\"page18R_mcid134\" class=\"markedContent\"><\/span><span id=\"page18R_mcid135\" class=\"markedContent\"><\/span><span id=\"page18R_mcid136\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">B<\/span><\/span><span id=\"page18R_mcid137\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">=<\/span><\/span><span id=\"page18R_mcid138\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">income by way of<\/span><\/span><span id=\"page18R_mcid139\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">long term capital gain<\/span><\/span><span id=\"page18R_mcid140\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">referred to in clause<\/span><\/span><span id=\"page18R_mcid141\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid142\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">b<\/span><\/span><span id=\"page18R_mcid143\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid144\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of sub<\/span><\/span><span id=\"page18R_mcid145\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page18R_mcid146\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section<\/span><\/span><span id=\"page18R_mcid147\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid148\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">1<\/span><\/span><span id=\"page18R_mcid149\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid150\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of section 115AD, <\/span><\/span><span id=\"page18R_mcid151\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">accrued or arisen to, or re<\/span><\/span><span id=\"page18R_mcid152\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">ceived by<\/span><\/span><span id=\"page18R_mcid153\" class=\"markedContent\"><\/span><span id=\"page18R_mcid154\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">the eligible<\/span><\/span><span id=\"page18R_mcid155\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">investment division<\/span><\/span><span id=\"page18R_mcid156\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">as a result of transfer of a security, <\/span><\/span><span id=\"page18R_mcid157\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">other than<\/span><\/span><span id=\"page18R_mcid158\" class=\"markedContent\"><\/span><span id=\"page18R_mcid159\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">that referred to in section 112A of the Act, and held by such investment division;<\/span><\/span><span id=\"page18R_mcid160\" class=\"markedContent\"><\/span><span id=\"page18R_mcid161\" class=\"markedContent\"><\/span><span id=\"page18R_mcid162\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">C<\/span><\/span><span id=\"page18R_mcid163\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">=<\/span><\/span><span id=\"page18R_mcid164\" class=\"markedContent\"><\/span><span id=\"page18R_mcid165\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">income by way of short term capital gain<\/span><\/span><span id=\"page18R_mcid166\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">referred to in clause<\/span><\/span><span id=\"page18R_mcid167\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid168\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">b<\/span><\/span><span id=\"page18R_mcid169\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid170\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of sub<\/span><\/span><span id=\"page18R_mcid171\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page18R_mcid172\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section<\/span><\/span><span id=\"page18R_mcid173\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid174\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">1<\/span><\/span><span id=\"page18R_mcid175\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid176\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of section 115AD, <\/span><\/span><span id=\"page18R_mcid177\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">accrued or arisen to, or received by<\/span><\/span><span id=\"page18R_mcid178\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">the eligible<\/span><\/span><span id=\"page18R_mcid179\" class=\"markedContent\"><\/span><span id=\"page18R_mcid180\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">investment division<\/span><\/span><span id=\"page18R_mcid181\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">as a result of transfer of security <\/span><\/span><span id=\"page18R_mcid182\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">referred<\/span><\/span><span id=\"page18R_mcid183\" class=\"markedContent\"><\/span><span id=\"page18R_mcid184\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">to in section 111A of the Act and held by such investment division<\/span><\/span><span id=\"page18R_mcid185\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">;<\/span><\/span><span id=\"page18R_mcid186\" class=\"markedContent\"><\/span><span id=\"page18R_mcid187\" class=\"markedContent\"><\/span><span id=\"page18R_mcid188\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">D<\/span><\/span><span id=\"page18R_mcid189\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">=<\/span><\/span><span id=\"page18R_mcid190\" class=\"markedContent\"><\/span><span id=\"page18R_mcid191\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">income by way of short term capital gain<\/span><\/span><span id=\"page18R_mcid192\" class=\"markedContent\"><\/span><span id=\"page18R_mcid193\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">re<\/span><\/span><span id=\"page18R_mcid194\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">ferred to in clause<\/span><\/span><span id=\"page18R_mcid195\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid196\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">b<\/span><\/span><span id=\"page18R_mcid197\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid198\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of sub<\/span><\/span><span id=\"page18R_mcid199\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page18R_mcid200\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section<\/span><\/span><span id=\"page18R_mcid201\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid202\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">1<\/span><\/span><span id=\"page18R_mcid203\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid204\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of section 115AD, <\/span><\/span><span id=\"page18R_mcid205\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">accrued or arisen to, or received by<\/span><\/span><span id=\"page18R_mcid206\" class=\"markedContent\"><\/span><span id=\"page18R_mcid207\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">the eligible<\/span><\/span><span id=\"page18R_mcid208\" class=\"markedContent\"><\/span><span id=\"page18R_mcid209\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">investment division<\/span><\/span><span id=\"page18R_mcid210\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">as a result of transfer of<\/span> <span dir=\"ltr\" role=\"presentation\">a security, <\/span><\/span><span id=\"page18R_mcid211\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">other than that referred to in section 111A of the Act, and held by such investmen<\/span><\/span><span id=\"page18R_mcid212\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">t division;<\/span><\/span><span id=\"page18R_mcid213\" class=\"markedContent\"><\/span><span id=\"page18R_mcid214\" class=\"markedContent\"><\/span><span id=\"page18R_mcid215\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">E<\/span><\/span><span id=\"page18R_mcid216\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">=<\/span><\/span><span id=\"page18R_mcid217\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">i<\/span><\/span><span id=\"page18R_mcid218\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">ncome from securities referred to in<\/span><\/span><span id=\"page18R_mcid219\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">clause<\/span><\/span><span id=\"page18R_mcid220\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid221\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">a<\/span><\/span><span id=\"page18R_mcid222\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid223\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of sub<\/span><\/span><span id=\"page18R_mcid224\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page18R_mcid225\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section<\/span><\/span><span id=\"page18R_mcid226\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid227\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">1<\/span><\/span><span id=\"page18R_mcid228\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid229\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of section 115AD of the Act<\/span><\/span><span id=\"page18R_mcid230\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">,<\/span><\/span><span id=\"page18R_mcid231\" class=\"markedContent\"><\/span><span id=\"page18R_mcid232\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">being in <\/span><\/span><span id=\"page18R_mcid233\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">the nature of interest referred to in section 194LD of the Act, held by the eligible investment division;<\/span><\/span><span id=\"page18R_mcid234\" class=\"markedContent\"><\/span><span id=\"page18R_mcid235\" class=\"markedContent\"><\/span><span id=\"page18R_mcid236\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">F<\/span><\/span><span id=\"page18R_mcid237\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">=<\/span><\/span><span id=\"page18R_mcid238\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">income from securities<\/span><\/span><span id=\"page18R_mcid239\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">, he<\/span><\/span><span id=\"page18R_mcid240\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">ld by the<\/span><\/span><span id=\"page18R_mcid241\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">eligible<\/span><\/span><span id=\"page18R_mcid242\" class=\"markedContent\"><\/span><span id=\"page18R_mcid243\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">investment division<\/span><\/span><span id=\"page18R_mcid244\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">,<\/span><\/span><span id=\"page18R_mcid245\" class=\"markedContent\"><\/span><span id=\"page18R_mcid246\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">as referred to in clause<\/span><\/span><span id=\"page18R_mcid247\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid248\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">a<\/span><\/span><span id=\"page18R_mcid249\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid250\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of sub<\/span><\/span><span id=\"page18R_mcid251\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211; <\/span><\/span><span id=\"page18R_mcid252\" class=\"markedContent\"><\/span><span id=\"page18R_mcid253\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">section<\/span><\/span><span id=\"page18R_mcid254\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page18R_mcid255\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">1<\/span><\/span><span id=\"page18R_mcid256\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page18R_mcid257\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of section 115AD of the Act<\/span><\/span><span id=\"page18R_mcid258\" class=\"markedContent\"><\/span><span id=\"page18R_mcid259\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">and not included in item E above<\/span><\/span><span id=\"page18R_mcid260\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">.<\/span><\/span><span id=\"page18R_mcid261\" class=\"markedContent\"><\/span><span id=\"page18R_mcid262\" class=\"markedContent\"><\/span><span id=\"page18R_mcid263\" class=\"markedContent\"><br role=\"presentation\" \/><\/span><\/p>\n<ul>\n<li>Following forms shall be substituted:<\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li><span id=\"page20R_mcid6\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">Forms <\/span><\/span><span id=\"page20R_mcid14\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">10<\/span><\/span><span id=\"page20R_mcid15\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page20R_mcid16\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">IK relating to <\/span><\/span><span id=\"page20R_mcid17\" class=\"markedContent\"><\/span><span id=\"page20R_mcid18\" class=\"markedContent\"><\/span><span id=\"page20R_mcid23\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">Annual Statement of Exempt Income under sub<\/span><\/span><span id=\"page20R_mcid24\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page20R_mcid25\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">rule<\/span><\/span><span id=\"page20R_mcid26\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page20R_mcid27\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">2<\/span><\/span><span id=\"page20R_mcid28\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page20R_mcid29\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of rule 21AJA and taxable income under <\/span><\/span><span id=\"page20R_mcid30\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">sub<\/span><\/span><span id=\"page20R_mcid31\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page20R_mcid32\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">rule<\/span><\/span><span id=\"page20R_mcid33\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page20R_mcid34\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">2<\/span><\/span><span id=\"page20R_mcid35\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page20R_mcid36\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of rule 21AJAA;<\/span><\/span><span id=\"page20R_mcid6\" class=\"markedContent\"><br role=\"presentation\" \/><\/span><span id=\"page20R_mcid36\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\"><br \/>\n<\/span><\/span><\/li>\n<li><span id=\"page23R_mcid281\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">Form<\/span><\/span><span id=\"page23R_mcid283\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">10<\/span><\/span><span id=\"page23R_mcid284\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page23R_mcid285\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">IL relating to <\/span><\/span><span id=\"page23R_mcid286\" class=\"markedContent\"><\/span><span id=\"page23R_mcid287\" class=\"markedContent\"><\/span><span id=\"page23R_mcid292\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">Verification by an Accountant under sub<\/span><\/span><span id=\"page23R_mcid293\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><\/span><span id=\"page23R_mcid294\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">rule<\/span><\/span><span id=\"page23R_mcid295\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">(<\/span><\/span><span id=\"page23R_mcid296\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">3<\/span><\/span><span id=\"page23R_mcid297\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">)<\/span><\/span><span id=\"page23R_mcid298\" class=\"markedContent\"> <span dir=\"ltr\" role=\"presentation\">of rule 21AJA.<\/span><\/span><span id=\"page23R_mcid299\" class=\"markedContent\"><\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>On January 14, 2022, the Central Board of Direct taxes notifies the Income tax (1st Amendment) , Rules further to amend the <\/p>\n","protected":false},"author":8808,"featured_media":253009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-260159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Provision for computation of income of specified fund, attributable to investment division of an offshore banking unit introduced vide Income tax (1st Amendment), Rules, 2022 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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