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[Cites 0, Cited by 0] [Section 2(49)] [Section 2] [Entire Act]

Union of India - Subsection

Section 2(49)(w) in The Income Tax Act, 2025

(w)assistance in the form of a subsidy or grant or cash incentive or duty drawback or waiver or concession or reimbursement (by whatever name called) by the Central Government or a State Government or any authority or body or agency, in cash or kind, to the assessee other than—
(i)the subsidy or grant or reimbursement which is taken into account for determination of the actual cost of the asset as per section 39(1)(d) and (3); or
(ii)the subsidy or grant by the Central Government for the purpose of the corpus of a trust or institution established by the Central Government or a State Government,where,––
(A)"card game and other game of any sort" includes any game show, an entertainment programme on television or electronic mode, in which people compete to win prizes or any other similar game;
(B)"Keyman insurance policy" shall have the meaning assigned to it in Schedule II (Note 1);
(C)"lottery" includes winnings from prizes awarded to any person by draw of lots or by chance or in any other manner, under any scheme or arrangement, called by any name;