Infrastructure capital company definition expanded, introducing infrastructure capital funds and tax rules for eligible project financing. The amendment inserts a provision treating profits of banking business carried on by co-operative societies with members as taxable, defines ... Summary
Infrastructure capital company definition expanded, introducing infrastructure capital funds and tax rules for eligible project financing.
The amendment inserts a provision treating profits of banking business carried on by co-operative societies with members as taxable, defines Infrastructure Capital Company and Infrastructure Capital Fund to cover entities providing equity or long-term finance to specified infrastructure, housing, hotel and hospital projects and requires such funds to operate under a registered trust deed, and expands the scope of recognised international tax agreements to include notified agreements under the alternate provision while omitting an existing Explanation.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.