Tax exemption extension continues income-tax relief for the specified undertaking, applied retrospectively to cover the extended period. Clause 186 amends section 13(1) of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 to extend the Administrator's income-tax and ... Summary
Tax exemption extension continues income-tax relief for the specified undertaking, applied retrospectively to cover the extended period.
Clause 186 amends section 13(1) of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 to extend the Administrator's income-tax and other tax exemption in respect of income, profits, gains or amounts relating to the specified undertaking by substituting the terminal date and declaring the substitution to have effect from 1 April 2019, preserving the exemption notwithstanding the Income-tax Act or any other enactment.
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