For the purposes of the Income-tax Act, 1961 (43 of 1961), every corresponding new bank shall be deemed to be an Indian company and a company in which the public are substantially interested.
Section 11: Corresponding new bank deemed to be an Indian company
The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970Central Act · Act 5 of 1970
Where this provision sits
| Act | The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 |
|---|---|
| Section | 11 |
| Marginal note | Corresponding new bank deemed to be an Indian company |
| Jurisdiction | Central |
| Status | In force as published by the source |
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