Deduction eligibility for investments in bonds for urban infrastructure expanded, qualifying certain public company bonds for tax benefits.

Amendments deem share investments in a company that ceases to be a public sector company eligible for deduction for three years, and deem other investments or deposits eligible until repayable; they substitute a requirement of being eligible for deduction in place of prior Central Government approval language; and add deposits in or investments in bonds issued by Indian public companies providing long-term finance for urban infrastructure as a qualifying category, defining long-term finance, public company, and urban infrastructure.

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