Exemption for family-held tax-free savings certificates allowed up to prescribed individual and joint investment limits. Exemption is allowed on interest from specified tax-free savings certificates and accounts held in the names of an assessee's spouse and minor children up to the prescribed individual or joint investment limits; ceilings for discontinued certificates are inclusive of current National Savings Certificate limits, and remedial relief must be granted where exemption was not previously allowed.
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 family-held tax-free savings certificates allowed up to prescribed individual and joint investment limits.
Exemption is allowed on interest from specified tax-free savings certificates and accounts held in the names of an assessee's spouse and minor children up to the prescribed individual or joint investment limits; ceilings for discontinued certificates are inclusive of current National Savings Certificate limits, and remedial relief must be granted where exemption was not previously allowed.
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