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[Cites 0, Cited by 0] [Section 44(5)] [Section 44] [Entire Act]

Union of India - Subsection

Section 44(5)(c) in The Income Tax Act, 2025

(c)"long-term borrowings" means—
(i)any moneys borrowed by the company from Government or Industrial Finance Corporation of India Limited or any other financial institution which is eligible for deduction under section 32(e) or any banking institution (not being a financial institution referred to above); or
(ii)any moneys borrowed or debt incurred by it in a foreign country in respect of the purchase outside India of capital plant and machinery, where the tenure of moneys borrowed or debt is not less than seven years.