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        Income Tax

        Section 115TD - Tax on accreted income

        Income-tax Act, 1961
        Chapter XII-EB
        SPECIAL PROVISIONS RELATING TO TAX ON ACCRETED INCOME OF CERTAIN TRUSTS AND INSTITUTIONS

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        Tax on accreted income: specified charitable entities face additional tax at maximum marginal rate upon conversion, merger, or improper dissolution. Section 115TD charges an additional tax at the maximum marginal rate on the accreted income of specified persons when they convert to a non eligible form, merge with a non similar registered entity, or fail to transfer assets on dissolution; accreted income equals aggregate fair market value of assets minus liabilities on the specified date, with specified exclusions, and the tax is final, payable within prescribed timeframes by the principal officer and the specified person, with no further credits or deductions allowed.
                  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.

                      Tax on accreted income: specified charitable entities face additional tax at maximum marginal rate upon conversion, merger, or improper dissolution.

                      Section 115TD charges an additional tax at the maximum marginal rate on the accreted income of specified persons when they convert to a non eligible form, merge with a non similar registered entity, or fail to transfer assets on dissolution; accreted income equals aggregate fair market value of assets minus liabilities on the specified date, with specified exclusions, and the tax is final, payable within prescribed timeframes by the principal officer and the specified person, with no further credits or deductions allowed.


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