Investment in BARC's Share Capital Qualifies for Exemption Under Income Tax Act Sections 11 & 12; Supports Government Policy.

Exemption u/s 11 and 12 - Amount deployed towards share capital of BARC pursuant to the policy of the Central Government and TRAI recommendations - BARC, being a not for profit Company under section 25 of the Companies act, 1956, is not permitted to distribute any dividends or profits to its shareholders - Benefit of exemption cannot be denied - AT .....

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