- 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.'
