Section 10 amendments revise tax treatment of interest, dividends, capital gains and specified exemptions under income tax law. Amendments to section 10 revise exemption eligibility and temporal application for specified incomes by inserting, substituting and omitting sub-clauses and provisos: restricting a sub-clause exemption for interest credited to Non-Resident (External) Accounts; expanding approval windows for qualifying agreements; exempting interest payable to an international investment bank under a framework agreement; adjusting timing conditions for bank-paid interest exemptions; adding a family pension exemption for dependents of armed forces members dying in operational duties; revising venture capital definitions; requiring certain infrastructure receipts to be included in book profit computations; and treating specified capital gains as taxable where securities transaction tax applies.
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Provisions expressly mentioned in the judgment/order text.
Section 10 amendments revise tax treatment of interest, dividends, capital gains and specified exemptions under income tax law.
Amendments to section 10 revise exemption eligibility and temporal application for specified incomes by inserting, substituting and omitting sub-clauses and provisos: restricting a sub-clause exemption for interest credited to Non-Resident (External) Accounts; expanding approval windows for qualifying agreements; exempting interest payable to an international investment bank under a framework agreement; adjusting timing conditions for bank-paid interest exemptions; adding a family pension exemption for dependents of armed forces members dying in operational duties; revising venture capital definitions; requiring certain infrastructure receipts to be included in book profit computations; and treating specified capital gains as taxable where securities transaction tax applies.
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