Tax exemption for a regional development finance corporation removes income-tax liability for specified assessment years including prior years. A statutory tax exemption displaces application of the Income-tax Act to remove liability for income-tax on the North-Eastern Development Finance ... Summary
Tax exemption for a regional development finance corporation removes income-tax liability for specified assessment years including prior years.
A statutory tax exemption displaces application of the Income-tax Act to remove liability for income-tax on the North-Eastern Development Finance Corporation Limited's income for the previous year relevant to the assessment year commencing on the first day of April, 1996 and for the nine previous years next following that previous year.
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