C. G. specifies, the debentures issued before the date of publication of this notification and the debentures to be issued after such date, by the Thanthai Periyar Transport Corporation Limited, Villupuram, as a part of the Workers' Participation Scheme of the Govt of Tamil Nadu - S.O.520 - Income Tax Act, 1961
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Specified debentures under income tax proviso, subject to transfer limits, interest cap and per-employee income ceiling. Debentures issued before and after publication by Thanthai Periyar Transport Corporation Limited under the Workers' Participation Scheme are specified for the purposes of the proviso to section 193, subject to conditions: no government guarantee as to principal or interest; issuance only to individuals (including joint holders); restricted transferability to such individuals; an interest rate cap; and a per-employee annual interest income ceiling. The specification does not apply 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 income tax proviso, subject to transfer limits, interest cap and per-employee income ceiling.
Debentures issued before and after publication by Thanthai Periyar Transport Corporation Limited under the Workers' Participation Scheme are specified for the purposes of the proviso to section 193, subject to conditions: no government guarantee as to principal or interest; issuance only to individuals (including joint holders); restricted transferability to such individuals; an interest rate cap; and a per-employee annual interest income ceiling. The specification does not apply where debenture income plus salary exceeds the minimum taxable limit.
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