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Discount on FCCB Buy-Back Not Taxable as Perquisite u/s 28(iv) of Income Tax Act.

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Full Text of the Document

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....Perquisite or Benefit u/s 28(iv) - Addition for a discount on buy-back of Foreign Currency Convertible Bonds (FCCB) - the benefit has been received in the shape of the money and thus, the said benefit cannot be held as taxable even u/s 28(iv) of the Act.....

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