Municipal debt securities - Definition / Legal Terminology - Income Tax

Explanation (ba) -For the purpose of section 194LD of the Income tax Act 1961, Municipal debt securities shall have the meaning assigned to it in clause (m) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015 made under the Securities and Exchange Board of India Act, 1992.