Section 2(18)(ac) in The Income Tax Act, 1961

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Union of India - Subsection

Section 2(18)(ac) in The Income Tax Act, 1961

(ac)if it is a mutual benefit finance company, that is to say, a company which carries on, as its principal business, the business of acceptance of deposits from its members and which is declared by the Central Government under section 620 of the Companies Act, 1956 (1 of 1956), to be a Nidhi or Mutual Benefit Society ; or

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Union of India - Subsection

Section 2(18)(ac) in The Income Tax Act, 1961