- In section 115ACA of the Income-tax Act, after sub-section (3), in the Explanation, in clause (a), with effect from the 1st day of April, 2016, for the words "issued to non-resident investors against the issue of ordinary shares or foreign currency convertible bonds of issuing company" occurring at the end, the following shall be substituted, namely: -"issued to investors against the issue of, -(i)ordinary shares of issuing company, being a company listed on a recognised stock exchange in India; or(ii)foreign currency convertible bonds of issuing company;".
