Deduction eligibility for investments in bonds for urban infrastructure expanded, qualifying certain public company bonds for tax benefits. Amendments deem share investments in a company that ceases to be a public sector company eligible for deduction for three years, and deem other investments or deposits eligible until repayable; they substitute a requirement of being eligible for deduction in place of prior Central Government approval language; and add deposits in or investments in bonds issued by Indian public companies providing long-term finance for urban infrastructure as a qualifying category, defining long-term finance, public company, and urban infrastructure.
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.
Deduction eligibility for investments in bonds for urban infrastructure expanded, qualifying certain public company bonds for tax benefits.
Amendments deem share investments in a company that ceases to be a public sector company eligible for deduction for three years, and deem other investments or deposits eligible until repayable; they substitute a requirement of being eligible for deduction in place of prior Central Government approval language; and add deposits in or investments in bonds issued by Indian public companies providing long-term finance for urban infrastructure as a qualifying category, defining long-term finance, public company, and urban infrastructure.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
