https://www.taxtmi.com/acts?id=15923 The amendments restrict the life insurance exemption for policies issued on or after 1 April 2012 to policies whose premium does not exceed ten per cent of the actual capital sum assured and add an Explanation adopting the meaning of actual capital sum assured. They insert a proviso requiring inclusion of a trust's income where specified earlier conditions become applicable irrespective of withdrawn approvals, revise the venture capital undertaking definition to follow SEBI regulations, and add an exclusion for specified foreign company crude oil receipts subject to prescribed conditions. en-us Fri, 16 Mar 2012 13:59:24 +0530 Fri, 16 Mar 2012 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15923 The amendments restrict the life insurance exemption for policies issued on or after 1 April 2012 to policies whose premium does not exceed ten per cent of the actual capital sum assured and add an Explanation adopting the meaning of actual capital sum assured. They insert a proviso requiring inclusion of a trust's income where specified earlier conditions become applicable irrespective of withdrawn approvals, revise the venture capital undertaking definition to follow SEBI regulations, and add an exclusion for specified foreign company crude oil receipts subject to prescribed conditions. Act-Rules Bills Fri, 16 Mar 2012 13:59:24 +0530 https://www.taxtmi.com/acts?id=15923