Exemption scope under section 10 revised: amendments alter specified inclusions, provisos, and omission of a clause affecting tax treatment. Amendments to section 10 revise exemptions by substituting, inserting and omitting clauses: they change timing references for approvals and applications, require inclusion of anonymous donations in total income if taxed separately, treat contributions from recognised exchanges and members as taxable, and omit a prior clause. They mandate inclusion of long term capital gains when computing a company's book profit for corporate minimum tax and raise a percentage in an explanatory provision. A new exemption clause covers specified income of notified non profit treaty bodies.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption scope under section 10 revised: amendments alter specified inclusions, provisos, and omission of a clause affecting tax treatment.
Amendments to section 10 revise exemptions by substituting, inserting and omitting clauses: they change timing references for approvals and applications, require inclusion of anonymous donations in total income if taxed separately, treat contributions from recognised exchanges and members as taxable, and omit a prior clause. They mandate inclusion of long term capital gains when computing a company's book profit for corporate minimum tax and raise a percentage in an explanatory provision. A new exemption clause covers specified income of notified non profit treaty bodies.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
