Eligible Issue Of Capital - Definition - Law Dictionary

Definition :

Eligible issue of capital, means an issue made by a public company formed and registered in India or a public financial institution and the entire proceeds of the issue are utilised wholly and exclusively for the purpose of any business referred to in sub-section (4) of section 80-IA. [Income-tax Act, 1961 (43 of 1961), s. 80C(2)(xix) Expl. (i)]