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Bare acts > Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 > Section 11
 
  


 

11. Corresponding new bank deemed to be an Indian company.- For the purposes of the Income Tax Act, 1961 (43 of 1961), every corresponding new bank shall be deemed to be an Indian company and a company in which the public are substantially interested.

 

 

 

 

 

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