Specification of India Millennium Deposits as qualifying deposits under section 10 clause 15, defining their tax classification. The Central Government specifies India Millennium Deposits as deposits for the purposes of clause (15) of section 10 of the Income Tax Act; these are bank instruments representing foreign currency denominated deposits issued in the form of promissory notes by a bank constituted under the State Bank of India Act and are thereby classified as deposits under the statutory sub clause.
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.
Specification of India Millennium Deposits as qualifying deposits under section 10 clause 15, defining their tax classification.
The Central Government specifies India Millennium Deposits as deposits for the purposes of clause (15) of section 10 of the Income Tax Act; these are bank instruments representing foreign currency denominated deposits issued in the form of promissory notes by a bank constituted under the State Bank of India Act and are thereby classified as deposits under the statutory sub clause.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
