Central Government notifies the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956), as a financial institution u/s 280ZB - S.O.3498 - Income Tax Act, 1961
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Financial institution designation: Life Insurance Corporation notified under section 280ZB, applying provisos to sub sections two and five. Notification designates the Life Insurance Corporation of India as a financial institution for the purpose of clause (i) of the proviso to sub section (2) and clause (i) of the proviso to sub section (5) of section 280ZB of the Income tax Act, 1961, by formally notifying the Corporation established under the Life Insurance Corporation Act, 1956.
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Financial institution designation: Life Insurance Corporation notified under section 280ZB, applying provisos to sub sections two and five.
Notification designates the Life Insurance Corporation of India as a financial institution for the purpose of clause (i) of the proviso to sub section (2) and clause (i) of the proviso to sub section (5) of section 280ZB of the Income tax Act, 1961, by formally notifying the Corporation established under the Life Insurance Corporation Act, 1956.
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