Relief Bonds inclusion expands exempt wealth categories, alters dwelling unit valuation and adjusts provisos affecting sales by public sector companies. The amendment adds Relief Bonds as an excluded asset for individuals and Hindu undivided families, allows the government to notify specified Relief Bonds, revises the dwelling-unit exclusion to include units up to eighty square meters used to house employees of the assessee in the assessee's plantation or industrial undertaking, inserts a proviso excluding certain assets sold by public sector companies before a specified past date from the sub-section, substitutes a proviso wording, and updates cross-references so Relief Bonds are treated consistently with Bonds and debentures.
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Provisions expressly mentioned in the judgment/order text.
Relief Bonds inclusion expands exempt wealth categories, alters dwelling unit valuation and adjusts provisos affecting sales by public sector companies.
The amendment adds Relief Bonds as an excluded asset for individuals and Hindu undivided families, allows the government to notify specified Relief Bonds, revises the dwelling-unit exclusion to include units up to eighty square meters used to house employees of the assessee in the assessee's plantation or industrial undertaking, inserts a proviso excluding certain assets sold by public sector companies before a specified past date from the sub-section, substitutes a proviso wording, and updates cross-references so Relief Bonds are treated consistently with Bonds and debentures.
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