CBDT Circular on Section 10 (15)(iv) of the income-tax act, 1961 – interest payable by industrial undertakings, industrial finance corporation, etc., on money’s borrowed exemption of interest payable by industrial undertaking on long-term loan raised/debt incurred abroad under sub-clause (iv)(c) of clause (15)

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SECTION 10 (15)(iv) OF THE INCOME-TAX ACT, 1961 – INTEREST PAYABLE BY INDUSTRIAL UNDERTAKINGS, INDUSTRIAL FINANCE CORPORATION, ETC., ON MONEY’S BORROWED EXEMPTION OF INTEREST PAYABLE BY INDUSTRIAL UNDERTAKING ON LONG-TERM LOAN RAISED/DEBT INCURRED ABROAD UNDER SUB-CLAUSE (iv)(c) OF CLAUSE (15) LETTER F. NO. 21/221/64-IT(A-I), DATED 24-8-1964 1. Nature of approval to the amount of loan or debt…

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