TaxTMI 
TaxTMI 
Procedure for setting up an Infrastructure Debt Fund for purpose of exemption under Schedule VII [Table: Sl. No. 46] to Act
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.... a Non-Banking Financial Company conforming to and satisfying the conditions laid down in the regulatory framework provided by the Reserve Bank of India. (2) The funds of the Infrastructure Debt Fund shall be invested only in - (a) post commencement operation date infrastructure projects, which have completed at least one year of satisfactory commercial operations; or (b) toll....
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....nt by such non-resident investor, shall not be less than a period of five years. 2. Issue zero coupon bonds. (a) Such bonds shall be in accordance with rule 7; and (b) as mentioned in clause (b) column C of Sl. No. 1. 3. Raise funds through loan route under external commercial borrowings. (a) Such external commercial borrowings shall be in accordance with the directions of the....
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....does not fulfil any of the conditions provided in this rule or directions of the Reserve Bank of India, all provisions of the Act shall apply as if it is not an Infrastructure Debt Fund referred to in Schedule VII [Table: Sl. No. 46] to the Act. (8) In this rule, - (a) "associated enterprise" shall have the meaning assigned to it in section 162; (b) "concern" shall have the meaning ass....
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.... than a company if he is, at any time during the tax year, beneficially entitled to not less than 20% of the income of such concern; (f) "relative", in relation to an individual, means- (i) spouse of the individual; or (ii) brother or sister of the individual; or (iii) brother or sister of the spouse of the individual; or (iv) brother or sister of eithe....