Exemption for infrastructure investment income applies to net income, requires yearly approval and TDS may still apply. Exemption under section 10(23G) covers dividend, interest and long term capital gains from investments in infrastructure enterprises and applies to the net income as computed under the Income tax Act, not gross receipts. Approval under clause (23G) is required for each assessment year during repayment of long term finance for interest to be exempt in the hands of the infrastructure capital company or fund. Tax must be deducted at source on interest payments, though recipients may seek a lower/non deduction certificate from the assessing officer.
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.
Exemption for infrastructure investment income applies to net income, requires yearly approval and TDS may still apply.
Exemption under section 10(23G) covers dividend, interest and long term capital gains from investments in infrastructure enterprises and applies to the net income as computed under the Income tax Act, not gross receipts. Approval under clause (23G) is required for each assessment year during repayment of long term finance for interest to be exempt in the hands of the infrastructure capital company or fund. Tax must be deducted at source on interest payments, though recipients may seek a lower/non deduction certificate from the assessing officer.
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