Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Infrastructure Debt Fund eligibility and compliance: NBFC setup, investment limits, bond issuance rules and tax exemption conditions. IDF exemption conditions require the fund to be set up as a Non Banking Financial Company under RBI regulations; invest only in post commencement infrastructure projects with at least one year of commercial operation or in toll operate transfer projects; issue rupee or foreign currency bonds, zero coupon bonds or raise ECBs subject to RBI and foreign exchange rules; observe minimum maturity and tenor requirements for non resident bond investors and ECBs; limit any single project or group exposure to twenty percent of corpus; avoid investments where specified shareholders or associated enterprises have a substantial interest; and file returns under section 139(4C).
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Infrastructure Debt Fund eligibility and compliance: NBFC setup, investment limits, bond issuance rules and tax exemption conditions.
IDF exemption conditions require the fund to be set up as a Non Banking Financial Company under RBI regulations; invest only in post commencement infrastructure projects with at least one year of commercial operation or in toll operate transfer projects; issue rupee or foreign currency bonds, zero coupon bonds or raise ECBs subject to RBI and foreign exchange rules; observe minimum maturity and tenor requirements for non resident bond investors and ECBs; limit any single project or group exposure to twenty percent of corpus; avoid investments where specified shareholders or associated enterprises have a substantial interest; and file returns under section 139(4C).
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