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of <h1>Reliance Infocom Approved to Provide Internet Services Under Section 10(23G) of Income-tax Act 1961</h1> The Central Government has approved the enterprise, initially known as Macronet Private Limited and later changed to Reliance Infocom Limited, Mumbai, for providing internet services in India under section 10(23G) of the Income-tax Act, 1961. This approval, applicable for the assessment years 2001-2002 to 2003-2004, is contingent upon compliance with the provisions of the Act and the Income-tax Rules, 1962. The approval may be revoked if the enterprise ceases infrastructure operations, fails to maintain audited accounts, or does not furnish the required audit report. The approval is linked to a specific license agreement with the Department of Telecommunication.
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