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Core Purpose

Notification amending a Department of Financial Services notification to insert "sale/redemption of investment in equities and related investments" as an additional category of proceeds within Paragraph 4 of the principal notification.

Detailed Summary

The Ministry of Finance, Department of Economic Affairs, under File No. 1/8/2021-PM dated 24th August 2023, amends the notification of the Ministry of Finance, Department of Financial Services, No. 11/14/2013-PR dated 2nd March 2015, by inserting the words "sale/redemption of investment in equities and related investments," into Paragraph 4 of that notification, positioned after the words "Proceeds arising out of" and before the words "exercise of put option"; signed by Surbhi Jain, Joint Secretary, with a note that the principal notification No. 11/14/2013-PR dated 2nd March 2015 was subsequently amended vide No. 11/14/2013-PR dated 12th February 2019, No. 10/41/2018-PM (Part-2) dated 11th December 2019, and No. 1/8/2021-PM dated 15th March 2021.

Full Text

EXTRAORDINARY PART I—Section 1 PUBLISHED BY AUTHORITY No. 205] NEW DELHI, THURS DAY , AUGUST 24 , 2023/ BHADRA 2, 1945 CG-DL-E-24082023-248314 MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 24th August, 2023 F. No. 1/8/2021 -PM.—In the notification of the Government of India, Ministry of Finance, Department of Financial Services, No. 11/14/2013 -PR, dated the 2nd March, 2015, published in the Gazette of India, Extraordinary, Part I, Section 1 dated the 2nd March, 2015, the Central Government hereby makes the following amendment, namely: — In Para 4 of the said notification, the following words shall be inserted –‘sale/ redemption of investment in equities and related investments, ’ after the words ‘Proceeds arising out o f” and before the words ‘exercise of put option’. SURBHI JAIN, Jt. Secy. Note : The principal notification was published in the Gazette of India, Extraordinary, Part 1, Section 1, vide No. 11/14/2013 -PR, dated the 2nd March, 2015 and subsequently amended vide No. 11/14/2013 -PR, dated the 12th February, 2019 ; No. 10/41/2018 -PM (Part -2) dated 11 December 2019 and No. 1/8/2021 -PM dated 15 March 2021. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054.

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