Public offer requirement: section 80CC amendment ties deduction eligibility to public subscription and timely corporate offer. The amendment to section 80CC substitutes clause (c) of sub section (3) to require that shares must be offered for subscription to the public and that ... Summary
Public offer requirement: section 80CC amendment ties deduction eligibility to public subscription and timely corporate offer.
The amendment to section 80CC substitutes clause (c) of sub section (3) to require that shares must be offered for subscription to the public and that such public offer must be made by the company before a specified cutoff date, linking eligibility for the section 80CC concession to the public nature and timing of the share issue.
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