Tuesday, 20 November 2012

New Amendment in Sec. 10(15) for Exemptions on Interest of Bond/Debentures

 

SECTION 10(15), ITEM (h) OF SUB-CLAUSE (iv) OF THE INCOME-TAX ACT, 1961 - EXEMPTIONS - INTEREST ON BONDS/DEBENTURES - SPECIFIED COMPANIES AUTHORIZED TO ISSUE TAX-FREE, SECUReD, REDEEMABLE, NON-CONVERTIBLE BONDS DURING F.Y. 2012-13 - CORRIGENDUM

NOTIFICATION no. 50/2012-IT [F.NO.178/60/2012-(ITA.1)], DATED 15-11-2012

In the notification of the Government of India in the Ministry of Finance, Department of Revenue, (Central Board of Direct Taxes) number S.O. 2685(E), dated the 6th November, 2012 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), dated the 6th November, 2012, in the table, for "Rural Electrical Corporation", read "Rural Electrification Corporation Limited".

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Bombay High Court Clarifies Tax Exemption Eligibility for Venture Capital Funds

  In a significant ruling, the Bombay High Court has reaffirmed that a Venture Capital Fund (VCF) registered with SEBI is entitled to claim ...