Investment Deposit Account Scheme definitions clarify depositor eligibility and designated account requirements under tax law. The Scheme defines key terms: an account is a deposit account under the Scheme; deposit office means any Development Bank office maintaining the account; depositor means an assessee eligible under section 32AB of the Income tax Act; designated account is an account opened exclusively for Scheme purposes with a scheduled bank; 'Income tax Act' refers to the Income tax Act, 1961; paragraph and sub paragraph are internal references. 'Scheduled bank' is defined by reference to specified statutory bank categories, and all references to Forms mean those in the Scheme's Appendix.
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.
Investment Deposit Account Scheme definitions clarify depositor eligibility and designated account requirements under tax law.
The Scheme defines key terms: an account is a deposit account under the Scheme; deposit office means any Development Bank office maintaining the account; depositor means an assessee eligible under section 32AB of the Income tax Act; designated account is an account opened exclusively for Scheme purposes with a scheduled bank; "Income tax Act" refers to the Income tax Act, 1961; paragraph and sub paragraph are internal references. "Scheduled bank" is defined by reference to specified statutory bank categories, and all references to Forms mean those in the Scheme's Appendix.
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