Recognition of stock exchange investments in promoted subsidiaries aligns tax treatment with regulator guidelines retrospectively. A new clause recognises investment by a recognised stock exchange in the equity share capital of a company promoted to acquire membership of another exchange, where the investee deals with or is mainly associated with the securities market, has as its main object acquisition of membership to facilitate investor members trading through the investee, and in which at least fifty one per cent of equity shares are held by the investor and the balance by the investor's members. The amendment applies retrospectively to the date of relevant regulator guidelines.
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.
Recognition of stock exchange investments in promoted subsidiaries aligns tax treatment with regulator guidelines retrospectively.
A new clause recognises investment by a recognised stock exchange in the equity share capital of a company promoted to acquire membership of another exchange, where the investee deals with or is mainly associated with the securities market, has as its main object acquisition of membership to facilitate investor members trading through the investee, and in which at least fifty one per cent of equity shares are held by the investor and the balance by the investor's members. The amendment applies retrospectively to the date of relevant regulator guidelines.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
