Section 10(15), item (h) of sub-clause (iv) of the Income-tax Act, 1961 - Exemptions - Interest on bonds/debentures - Notified bonds/debentures of Public Sector Companies - 13/2012 - Income Tax Act, 1961
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Interest exemption on notified bonds: aligns QIB definition with SEBI and sets investor classification for retail versus high networth. Amendment to the income-tax notification revises nomenclature to 'Rural Electrification Corporation Limited' and substitutes the Explanation: Qualified Institutional Buyers adopt the meaning from the SEBI (Issue and Listing of Debt Securities) Regulations, 2008, and individual investors are classified into retail investor and High Networth Individual categories based on specified investment thresholds for applying the exemption for interest on notified bonds and debentures of public sector companies.
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.
Interest exemption on notified bonds: aligns QIB definition with SEBI and sets investor classification for retail versus high networth.
Amendment to the income-tax notification revises nomenclature to "Rural Electrification Corporation Limited" and substitutes the Explanation: Qualified Institutional Buyers adopt the meaning from the SEBI (Issue and Listing of Debt Securities) Regulations, 2008, and individual investors are classified into retail investor and High Networth Individual categories based on specified investment thresholds for applying the exemption for interest on notified bonds and debentures of public sector companies.
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