Amendment of section 115BBDA
Amendment of section 115BBDA.
44. In section 115BBDA of the Income-tax Act [as inserted by section 52 of the Finance Act, 2016 (28 of 2016)], with effect from the 1st day of April, 2018,—
| (i) | in sub-section (1), for the words "an assessee, being an individual, a Hindu undivided family or a firm", the words "a specified assessee" shall be substituted; | |
| (ii) | for sub-section (3), the following Explanation shall be substituted, namely:— | |
| 'Explanation.—For the purposes of this section,— |
| (a) | "dividend" shall have the meaning assigned to it in clause (22) of section 2 but shall not include sub-clause (e) thereof; | |
| (b) | "specified assessee" means a person other than,— |
| (i) | a domestic company; or | |
| (ii) | a fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; or | |
| (iii) | a trust or institution registered under section 12A or section 12AA.'. |