Computation of income falling under section 10(23G)

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... out of investments made in an enterprise engaged in the business of developing, maintaining and operating an infrastructure facility. The exemption is available subject to fulfilment of various conditions as contained in the section read with rule 2E of the Income-tax Rules, 1962. 2. The Board has received a number of references seeking to know whether it is the gross income that is exempt or it .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... clarification has been sought is whether, in order to avail of exemption of interest on long-term finance, by infrastructure capital company/fund, the enterprise engaged in business of development, maintaining and operating an infrastructure facility should have been approved for that particular assessment year in respect of which exemption is claimed. In this connection, it is clarified that an .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X