Clarity relating to Indirect transfer provisions :

CLAUSE(S) OF FINANCE BILL, 2017	PARTICUL ARS OF AMENDME NTS	SECTION	AMENDMENT / NEWLY INSERTED	APPLICABLE W.E.F.	BRIEF OF AMENDMENT
4	Clarity relating to Indirect transfer provisions	9	AMENDED	01st April 2012 (A.Y. 2012-13) (retrospective basis)	Explanation 5 shall not apply to any asset or capital asset being investment held by non-resident, directly or indirectly, in a Foreign Institutional Investor, as referred to in clause (a) of the Explanation to section 115AD, and registered as Category-I or Category II Foreign Portfolio Investor under the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014made under the Securities and Exchange Board of India Act, 1992 The proposed amendment is clarificatory in nature.