- In section 115BBDA of the Income-tax Act [as inserted by section 52 of the Finance Act, 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.'.
