(9)For the purposes of this section,––(a)"beneficial owner", in respect of an asset means an individual who has provided, directly or indirectly, consideration for the asset for the immediate or future benefit, direct or indirect, of himself or any other person;(b)"beneficiary", in respect of an asset means an individual who derives benefit from the asset during the tax year and the consideration for such asset has been provided by any person other than such beneficiary;(c)"specified entity" means––(i)research association referred to in Schedule III (Table: Sl. No. 23);(ii)association or institution referred to in Schedule III (Table: Sl. No. 24);(iii)person referred to in Schedule VII (Table: Sl. No. 2);(iv)institution referred to in Schedule III (Table: Sl. No. 25);(v)any University or other educational institution or any hospital or other medical institution referred to in Schedule VII (Table: Sl. Nos. 17, 18 and 19);(vi)Mutual Fund referred to in Schedule VII (Table: Sl. Nos. 20 and 21);(vii)securitisation trust referred to in Schedule III (Table: Sl. No. 26);(viii)Investor Protection Fund referred to in Schedule III (Table: Sl. Nos. 28 and 29);(ix)Core Settlement Guarantee Fund referred to in Schedule III (Table: Sl. No. 30);(x)venture capital company or venture capital fund referred to in Schedule V (Table: Sl. No. 6);(xi)trade union or association referred to in Schedule III (Table: Sl. No. 31);(xii)Board or Authority referred to in Schedule VII (Table: Sl. Nos. 33 and 40);(xiii)Body or Authority or Board or Trust or Commission (by whatever name called) referred to in Schedule III (Table: Sl. No. 36);(xiv)infrastructure debt fund referred to in Schedule VII (Table: Sl. No. 46);(d)"specified laws" shall refer to the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976, or the Prohibition of Benami Property Transactions Act, 1988, or the Prevention of Money-laundering Act, 2002, or the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
