Section 3(5)(c) in The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015

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Union of India - Subsection

Section 3(5)(c) in The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015

(c)"meaningful volume of trading on an on-going basis" with respect to each class of shares means,- (i) trades in each such class are effected, other than in de minimis quantities, on one or more established securities markets on at least sixty business days during the prior calendar year; and (ii) the aggregate number of shares in each such class that are traded on such market or markets during the prior year are at least ten percent. of the average number of shares outstanding in that class during the prior calendar year;

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Union of India - Subsection

Section 3(5)(c) in The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015