Tax exemption for Government security income and capital gains extended to foreign institutional investors and the Bank for International Settlements. Income-tax Schedule IV is amended to insert exemptions for interest on Government security and capital gains arising from sale, exchange or transfer of such security, applicable to a Foreign Institutional Investor and the Bank for International Settlements, subject to furnishing prescribed information. A new note defines the Bank for International Settlements, adopts the Act's meaning of Foreign Institutional Investor, and incorporates the meaning of Government security from the Government Securities Act, 2006.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption for Government security income and capital gains extended to foreign institutional investors and the Bank for International Settlements.
Income-tax Schedule IV is amended to insert exemptions for interest on Government security and capital gains arising from sale, exchange or transfer of such security, applicable to a Foreign Institutional Investor and the Bank for International Settlements, subject to furnishing prescribed information. A new note defines the Bank for International Settlements, adopts the Act's meaning of Foreign Institutional Investor, and incorporates the meaning of Government security from the Government Securities Act, 2006.
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