Circular No. 323-Income Tax The exemption under clause (xxv) of sub-section (1) of section 5 is available subject to the limit of Rs. 1,50,000 laid down under sub-section (1A) of section 5 for the listed investments and also subject to the condition that the asset should have been owned by the assessee for a period of at least six months ending with the relevant valuation date as laid down in clause (b) of sub-section (3) of section 5.
Notification No. S.O.940-Income Tax In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies The Millowners’ Association Relief Fund Society for the purpose of the said section for the period covered by the assessment years 1982-83 to 1984-85.
