# The Finance Act, 2014, Section 18: Amendment of section 47

- Act: The Finance Act, 2014 (Act 25 of 2014)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2014/section/18/

## Text

Amendment of section 47. 18. In section 47 of the Income-tax Act, with effect from the 1st day of April, 2015,— (a) | after clause (viia), the following shall be inserted, namely:— '(viib) | any transfer of a capital asset, being a Government Security carrying a periodic payment of interest, made outside India through an intermediary dealing in settlement of securities, by a non-resident to another non-resident. Explanation.—For the purposes of this clause, "Government Security" shall have the meaning assigned to it in clause (b) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);'; (b) | after clause (xvi), the following shall be inserted, namely:— '(xvii) | any transfer of a capital asset, being share of a special purpose vehicle to a business trust in exchange of units allotted by that trust to the transferor. Explanation.—For the purposes of this clause, the expression "special purpose vehicle" shall have the meaning assigned to it in the Explanation to clause (23FC) of section 10.'. © Copyright. Taxmann Publications Pvt. Ltd.

---
Published by eCourtsIndia together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957.