Inclusion of specified gold bonds in Income-tax Act definition alters their tax treatment under amended clause. An amendment inserts a new sub-clause into clause (14) of the Income-tax Act, 1961, expressly adding 61 per cent. Gold Bonds, 1977 issued by the Central Government to the instruments enumerated in that clause, thereby expanding the Act's definitional framework to include those specified bonds.
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Inclusion of specified gold bonds in Income-tax Act definition alters their tax treatment under amended clause.
An amendment inserts a new sub-clause into clause (14) of the Income-tax Act, 1961, expressly adding 61 per cent. Gold Bonds, 1977 issued by the Central Government to the instruments enumerated in that clause, thereby expanding the Act's definitional framework to include those specified bonds.
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