Section 293A Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils.

SUBSCRIBE FOR FULL CONTENT


The Tax Publishers [1]293A. [2]Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils. (1) If the Central Government is satisfied that it is necessary or expedient so to do in the public interest, it may, by notification in the Official Gazette, make an exemption, reduction in rate or other modification in respect of income-tax in favour of any class of persons specified in sub-section (2) or in regard to the whole or any part of the income of such class of persons [3][or in regard to the status in which such class of persons or the members thereof are to be assessed on their income from the business referred to in clause (a) of sub-section (2) : SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

[1]293A. [2]Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils.

(1) If the Central Government is satisfied that it is necessary or expedient so to do in the public interest, it may, by notification in the Official Gazette, make an exemption, reduction in rate or other modification in respect of income-tax in favour of any class of persons specified in sub-section (2) or in regard to the whole or any part of the income of such class of persons [3][or in regard to the status in which such class of persons or the members thereof are to be assessed on their income from the business referred to in clause (a) of sub-section (2) :