https://www.taxtmi.com/article/detailed?id=1646 Amendments narrow section 10 exemptions by limiting tax-free receipts under life insurance for policies issued after the operative date via a reduced premium-to-sum-assured threshold with a conforming Explanation; add a retrospective proviso to include certain trust income when specified clause (15) conditions become applicable; substitute a SEBI-based definition for "venture capital undertaking"; and create a conditional exemption for foreign companies receiving Indian-currency payments for crude sales to India, subject to government agreement, notification and limitation on other activities in India. en-us Sun, 18 Mar 2012 06:50:15 +0530 Sun, 18 Mar 2012 06:50:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1646 Amendments narrow section 10 exemptions by limiting tax-free receipts under life insurance for policies issued after the operative date via a reduced premium-to-sum-assured threshold with a conforming Explanation; add a retrospective proviso to include certain trust income when specified clause (15) conditions become applicable; substitute a SEBI-based definition for "venture capital undertaking"; and create a conditional exemption for foreign companies receiving Indian-currency payments for crude sales to India, subject to government agreement, notification and limitation on other activities in India. Articles Income Tax Sun, 18 Mar 2012 06:50:15 +0530 https://www.taxtmi.com/article/detailed?id=1646