Section 10(15)(f) in The Income Tax Act, 1961

[Cites 0, Cited by 1] [Section 10(15)] [Section 10] [Entire Act]

Union of India - Subsection

Section 10(15)(f) in The Income Tax Act, 1961

(f)by an industrial undertaking in India on any moneys borrowed by it in foreign currency from sources outside India under a loan agreement approved by the Central Government before the 1st day of June, 2001 having regard to the need for industrial development in India, to the extent to which such interest does not exceed the amount of interest calculated at the rate approved by the Central Government in this behalf, having regard to the terms of the loan and its repayment;

(fa)by a scheduled bank to a non-resident or to a person who is not ordinarily resident within the meaning of sub-section (6)† of section 6 on deposits in foreign currency where the acceptance of such deposits by the bank is approved by the Reserve Bank of India.

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Union of India - Subsection

Section 10(15)(f) in The Income Tax Act, 1961