Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Penalties for benefits to related persons: levy equal to misapplied income with enhanced sanction on repeat violations. The Assessing Officer may impose a penalty equal to the aggregate amount of specified income applied, directly or indirectly, for the benefit of a related ... Summary
Penalties for benefits to related persons: levy equal to misapplied income with enhanced sanction on repeat violations.
The Assessing Officer may impose a penalty equal to the aggregate amount of specified income applied, directly or indirectly, for the benefit of a related person when a registered non-profit organisation is found to have taxable specified income so applied; a higher monetary sanction is available where the violation recurs in a subsequent tax year.
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