Tax credit certificates: transferable credits for equity subscriptions, relocation, exports and increased production with adjustment and refund rules. Chapter XXIIB establishes tax credit certificates governed by scheme rules. Individuals and HUFs receive certificates for subscribing to designated equity ... Summary
Tax credit certificates: transferable credits for equity subscriptions, relocation, exports and increased production with adjustment and refund rules.
Chapter XXIIB establishes tax credit certificates governed by scheme rules. Individuals and HUFs receive certificates for subscribing to designated equity issues with tiered computation, multi year entitlement and pro rata reduction on disposals; companies receive certificates for approved relocation from urban areas proportionate to shifting expenditure against capital gains tax, with a clawback on certain transfers. Certificates for manufacturing excess tax, export proceeds, and increased production are available subject to scheme specified goods and rates. All certificates are adjustable against tax liabilities and, if unused within twelve months of production, treated as refunds under Chapter XIX.
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