India - Income Tax Act 2010 - Saarc

1.65 CH. III - INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME S. 10(15)52[(h) by any public sector company in respect of such bonds ordebentures and subject to such conditions, including thecondition that the holder of such bonds or debentures registershis name and the holding with that company, as theCentral Government may, by notification 53 in the OfficialGazette, specify in this behalf;]54[(i) by Government on deposits made by an employee of theCentral Government or a State Government 55 [or a publicsector company], in accordance with such scheme as theCentral Government may, by notification 56 in the OfficialGazette, frame in this behalf, out of the moneys due to him onaccount of his retirement, whether on superannuation orotherwise.]57[ 58 [Explanation 1].—For the purposes of this sub-clause, the expression“industrial undertaking” means any undertaking which isengaged in—(a) the manufacture or processing of goods; or59[(aa) the manufacture of computer software or recording of programmeon any disc, tape, perforated media or other information device; or](b) the business of generation or distribution of electricity or anyother form of power; or60[(ba) the business of providing telecommunication services; or](c) mining; or(d) the construction of ships; or61[(da) the business of ship-breaking; or]62[(e) the operation of ships or aircrafts or construction or operation ofrail systems.]]52. Inserted by the Finance Act, 1987, w.e.f. 1-4-1987.53. For specified bonds/debentures of public sector companies, see Taxmann’s Direct TaxesCirculars.54. Inserted by the Finance Act, 1989, w.e.f. 1-4-1990.55. Inserted by the Finance Act, 1990, w.e.f. 1-4-1991.56. For notified deposit schemes for retired Government employees/employees of publicsector companies, refer Taxmann’s Direct Taxes Circulars. No new account can be openedunder the Schemes, from the close of business on 9-7-2004. For details, see Taxmann’sMaster Guide to Income-tax Act.57. Inserted by the Finance (No. 2) Act, 1991, w.e.f. 1-4-1991.58. Explanation renumbered as Explanation 1 by the Finance Act, 1999, w.e.f. 1-4-2000.59. Inserted by the Finance (No. 2) Act, 1998, w.e.f. 1-4-1999.60. Inserted by the Finance Act, 1997, w.e.f. 1-4-1998.61. Inserted by the Taxation Laws (Amendment) Act, 2003, w.r.e.f. 1-4-1991.62. Substituted by the Finance (No. 2) Act, 1996, w.e.f. 1-4-1997. Prior to its substitution, clause(e) was inserted by the Finance (No. 2) Act, 1991, w.e.f. 1-4-1991.