Tax exemption amendments revise charitable, educational and infrastructure investment treatment and clarify eligible entities and funds. Amendments to section 10 revise exemption entries by omitting certain clauses, insert new sub-clauses to expand exempt educational and medical institutions with thresholds and approval pathways, add manufacture of computer software to an explanatory clause, redefine 'venture capital undertaking' and 'infrastructure facility,' and create an exemption for income of infrastructure capital funds and companies from dividends, interest or long-term capital gains on qualifying investments, with definitions and prescribed conditions. Transitional protection is provided for certain prior investments, and a regional reference is extended to include the Ladakh region.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption amendments revise charitable, educational and infrastructure investment treatment and clarify eligible entities and funds.
Amendments to section 10 revise exemption entries by omitting certain clauses, insert new sub-clauses to expand exempt educational and medical institutions with thresholds and approval pathways, add manufacture of computer software to an explanatory clause, redefine "venture capital undertaking" and "infrastructure facility," and create an exemption for income of infrastructure capital funds and companies from dividends, interest or long-term capital gains on qualifying investments, with definitions and prescribed conditions. Transitional protection is provided for certain prior investments, and a regional reference is extended to include the Ladakh region.
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