Debentures issued before the date of publication of this notification , and the debentures to be issued after such date, by the Transport and Engineering Corporations of Tamil Nadu specified in the Table , as a part of the Workers Participation Scheme of the Government of Tamil Nadu - S.O.1434 - Income Tax Act, 1961
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Specified debentures under workers participation scheme eligible for notification benefits subject to transfer, interest and recipient limits. Central Government specifies debentures of the listed Tamil Nadu Transport and Engineering Corporations as part of the Workers Participation Scheme, subject to conditions: no government guarantee for principal or interest; issuance only to individuals (including joint holders); non-transferability except to such individuals; interest capped at twelve percent per annum; and per-employee aggregate interest income per year not exceeding five hundred rupees. The notification excludes cases where debenture income plus salary exceeds the minimum taxable limit.
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.
Specified debentures under workers participation scheme eligible for notification benefits subject to transfer, interest and recipient limits.
Central Government specifies debentures of the listed Tamil Nadu Transport and Engineering Corporations as part of the Workers Participation Scheme, subject to conditions: no government guarantee for principal or interest; issuance only to individuals (including joint holders); non-transferability except to such individuals; interest capped at twelve percent per annum; and per-employee aggregate interest income per year not exceeding five hundred rupees. The notification excludes cases where debenture income plus salary exceeds the minimum taxable limit.
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