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Now trust can make investments in Co. in which NPCI holds 51% shareholding

March 7, 2020
The CBDT has inserted a new clause (v) to Rule 17C of the Income-tax Rules which prescribed modes of investment/deposits by a charitable or religious trust or institution. Now, investment in equity share capital or bonds or debentures of a Co. engaged in operations of retail payments system or digital payments settlement shall be an eligible investments. However, 51% of equity shares of said Co. are to be held by NPCI
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