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7. Tax exemption.- (1) The tax exemption would be available to EEC only in respect of investments made out of ECIIP funds, which would be used by the EEC through partner institutions as seed money for promoting industrial enterprises with the European Investors hailing from EEC member countries in India. (2) The exemption from income-tax on dividend, interest and capital gains tax on disinvestment available to EEC under this Scheme will not be available in respect of the equity held by foreign investors hailing from EEC member countries, or the equity held by the ECIIP partner institutions out of their own funds. | |||||
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