Definition of "Eligible Company" under Section 54GB(6)(b) of Income Tax Act 1961: Key Criteria and Compliance.

An "Eligible Company" under section 54GB(6)(b) of the Income Tax Act 1961 is defined as a company incorporated in India within a specific timeframe related to the capital gain assessment year. It must be engaged in manufacturing or an eligible business and have more than twenty-five percent share capital or voting rights held by the assessee. Additionally, it should qualify as a small or medium enterprise under the Micro, Small and Medium Enterprises Act, 2006, or be an eligible start-up.

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