Part IIIAMENDMENT TO THE ELECTION COMMISSION (CONDITIONS OF SERVICE OF ELECTION COMMISSIONERS AND TRANSACTION OF BUSINESS) ACT, 1991 (From Clause 144 )
Tax on accreted income extended to trusts registered under section 12AB, applying existing 115TD tax mechanisms. The amendment extends the scope of the tax on accreted income in section 115TD to include trusts and institutions registered under section 12AB by ... Summary
Tax on accreted income extended to trusts registered under section 12AB, applying existing 115TD tax mechanisms.
The amendment extends the scope of the tax on accreted income in section 115TD to include trusts and institutions registered under section 12AB by substituting references so that the existing substantive and procedural provisions, including additional tax at the maximum marginal rate for disqualifying conversions, improper mergers, or failure to transfer assets on dissolution within the prescribed period, apply mutatis mutandis to entities registered under the newer registration route.
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