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.
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Provisions expressly mentioned in the judgment/order text.
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.
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