Tax exemption for the New Development Bank is made conditional on furnishing information in the prescribed manner. Schedule VII to the Income-tax Act is amended to insert a new entry for the New Development Bank. The exemption is conditional on furnishing information ... Summary
Tax exemption for the New Development Bank is made conditional on furnishing information in the prescribed manner.
Schedule VII to the Income-tax Act is amended to insert a new entry for the New Development Bank. The exemption is conditional on furnishing information in the prescribed form and manner, so the exemption operates only subject to compliance with the specified reporting requirement.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.