# The Finance Act, 2016, Section 60: Amendment of section 115TC

- Act: The Finance Act, 2016
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2016/section/60/

## Text

Amendment of section 115TC. 60. In section 115TC of the Income-tax Act, in the Explanation, with effect from the 1st day of June, 2016,— (A) | in clause (a), after the words "or securities", the words "or security receipt" shall be inserted; (B) | in clause (d),— (I) | in sub-clause (ii), after the words "Reserve Bank of India,", the word ";or" shall be inserted; (II) | after sub-clause (ii) and before the long line, the following sub-clause shall be inserted, namely:— "(iii) | trust set-up by a securitisation company or a reconstruction company formed, for the purposes of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), or in pursuance of any guidelines or directions issued for the said purposes by the Reserve Bank of India,"; (C) | after clause (d), the following clause shall be inserted, namely:— '(e) | "security receipt" shall have the same meaning as assigned to it in clause (zg) of sub-section (1) of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002)'.

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