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of <h1>Income Tax Act Section 10(23G): Exemption on Net Income from Infrastructure Investments; Clarification on Tax Deduction Compliance.</h1> Section 10(23G) of the Income-tax Act, 1961 exempts net income from dividends, interest, and long-term capital gains from investments in infrastructure enterprises, not gross receipts. The exemption applies only if the enterprise is approved for each assessment year during which long-term finance is repaid. Additionally, tax must be deducted at source when paying interest income to infrastructure capital companies or funds, unless a certificate for lower or non-deduction is obtained from the Assessing Officer. The circular clarifies these aspects to ensure proper compliance with the Act.
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