TaxTMI 
TaxTMI 
Definition
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....ction 7; (4) "deposit" means an amount of money received by way of an advance or loan or in any other form, by any deposit taker with a promise to return whether after a specified period or otherwise, either in cash or in kind or in the form of a specified service, with or without any benefit in the form of interest, bonus, profit or in any other form, but does not include- (a) amounts received as loan from a scheduled bank or a co-operative bank or any other banking company as defined in section 5 of the Banking Regulation Act, 1949 (10 of 1949); (b) amounts received as loan or financial assistance from the Public Financial Institutions notified by the Central Government in consultation with the Reserve Bank of India or any non-banking ....
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....ion and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); (i) any deposit made under section 34 or an amount accepted by a political party under section 29B of the Representation of People Act, 1951 (43 of 1951); (j) any periodic payment made by the members of the self-help groups operating within such ceilings as may be prescribed by the State Government or Union territory Government; (k) any other amount collected for such purpose and within such ceilings as may be prescribed by the State Government; (l) an amount received in the course of, or for the purpose of, business and bearing a genuine connection to such business including- (i) payment, advance or part payment for the supply or hi....
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....have the same meaning as assigned to it in clause (bb) of the section 45-I of the said Act; (iii) the expressions "partner" and "firm" shall have the same meanings respectively assigned to them under the Indian Partnership Act, 1932 (9 of 1932); (iv) the expression "partner" in respect of a limited liability partnership shall have the same meaning as assigned to it in clause (q) of sub-section (1) of section 2 of the Limited Liability Partnership Act, 2008 (6 of 2009); (v) the expression "relative" shall have the same meaning as assigned to it in the Companies Act, 2013 (18 of 2013); (5) "depositor" means any person who makes a deposit under this Act; (6) "deposit taker" means- (i) any individual or group of individuals; (ii) a propr....