https://www.taxtmi.com/acts?id=49530 Amendments redefine competent authority as the Reserve Bank or authorised foreign-exchange regulator, add clause permitting subscription to equity shares in an eligible issue of capital, and insert a deeming rule treating reserve-account amounts used for such subscriptions as profits if shares are transferred or converted within three years; acquisition is the entry in the register of members, and eligible issue of capital is confined to issues funding new hotels or specified tourism facilities, with effective dates in 1999 and 2000. en-us Sat, 22 Feb 2025 11:01:57 +0530 Sat, 22 Feb 2025 11:01:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49530 Amendments redefine competent authority as the Reserve Bank or authorised foreign-exchange regulator, add clause permitting subscription to equity shares in an eligible issue of capital, and insert a deeming rule treating reserve-account amounts used for such subscriptions as profits if shares are transferred or converted within three years; acquisition is the entry in the register of members, and eligible issue of capital is confined to issues funding new hotels or specified tourism facilities, with effective dates in 1999 and 2000. Act-Rules F. Acts / Amendment Acts Sat, 22 Feb 2025 11:01:57 +0530 https://www.taxtmi.com/acts?id=49530