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[Cites 0, Cited by 0] [Section 2(29)] [Section 2] [Entire Act]

Union of India - Subsection

Section 2(29)(f) in The Income Tax Act, 2025

(f)a company which is not a private company as defined in the Companies Act, 2013, and either of the following conditions is fulfilled:—
(i)shares in the company (not being shares entitled to a fixed rate of dividend, with or without a further right to participate in profits) were, as on the last day of the relevant tax year, listed in a recognised stock exchange in India as per the Securities Contracts (Regulation) Act, 1956 and any rules made thereunder;
(ii)shares in the company (not being those entitled to a fixed rate of dividend, with or without a further right to participate in profits) carrying not less than 50% of the voting power, have been unconditionally, allotted to or acquired by, and were beneficially held throughout the relevant tax year by––
(A)the Government; or
(B)a corporation established by a Central Act or State Act or Provincial Act; or
(C)any company to which this clause applies or any subsidiary company of such company, if the entire share capital of such subsidiary company has been held by the parent company or by its nominees throughout the tax year,so, however, that in respect of an Indian company whose business consists mainly in the construction of ships or in the manufacture or processing of goods or in mining or in the generation or distribution of electricity or any other form of power, the expression "not less than 50%" shall be read as if the expression "not less than 40%" had been substituted;