Mode of investment as specified in sub-section (5) of section 11 of the Income-tax Act--Investment in ``Kisan Vikas Patra'' and ``Indira Vikas Patra''--Clarification regarding
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Savings certificates recognised as eligible investment for charitable trust surplus, encompassing Indira Vikas Patra and Kisan Vikas Patra. Clarifies that Indira Vikas Patra and Kisan Vikas Patra, having been notified under the rule-making powers for savings certificates, constitute savings certificates within the Government Savings Certificates framework and therefore qualify as authorised modes of investment for public charitable or religious trusts under the statutory provision governing investment of surplus funds.
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.
Savings certificates recognised as eligible investment for charitable trust surplus, encompassing Indira Vikas Patra and Kisan Vikas Patra.
Clarifies that Indira Vikas Patra and Kisan Vikas Patra, having been notified under the rule-making powers for savings certificates, constitute savings certificates within the Government Savings Certificates framework and therefore qualify as authorised modes of investment for public charitable or religious trusts under the statutory provision governing investment of surplus funds.
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