Section(s) Referred: 10 ,10(23D)
Statute: INCOME TAX
Date of Issue: 28/2/1991
In exercise of the powers conferred by clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies “GIC Mutual Fund”, set up by the General Insurance Corporation of India, a body corporate incorporated under the provisions of the Companies Act, 1956 (1 of 1956) and its four wholly owned subsidiaries incorporated under the provisons of the Companies Act, 1956, namely, National Insurance Company Limited, New India Assurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company Limited, as a Mutual Fund of a public financial institution for the purposes of the said clause for the assessment year 1991-92 and the subsequent assessment years.
(Sd.) Arbind Modi, Deputy Secretary to the Government of India.
[No. 8839/F.No. 133/371/90-TPL