Exemption for National Defence Gold Bonds declared as annual payment under amended section ten clause fifteen. An amendment adds a new sub-clause treating annual payments on National Defence Gold Bonds as expressly exempt from income tax, thereby expanding the ... Summary
Exemption for National Defence Gold Bonds declared as annual payment under amended section ten clause fifteen.
An amendment adds a new sub-clause treating annual payments on National Defence Gold Bonds as expressly exempt from income tax, thereby expanding the statutory catalogue of exempt receipts and establishing a clear textual basis within the Income-tax Act for non-taxation of those annual bond payments.
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