Company eligibility broadened: removal of 'Indian' qualifier extends qualifying companies under the Schedule provision in tax framework. In the First Schedule to the 1961 Act, Part II, Paragraph D, clause (ii) of the first proviso is amended by substituting the words "any company which ... Summary
Company eligibility broadened: removal of 'Indian' qualifier extends qualifying companies under the Schedule provision in tax framework.
In the First Schedule to the 1961 Act, Part II, Paragraph D, clause (ii) of the first proviso is amended by substituting the words "any company which satisfies" for the words "any Indian company which satisfies", and that substitution is to be deemed always to have been made.
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