TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Revised Tax Rule Limits Financial Payments Between Association Members, Introducing Stricter Disallowance Criteria Under Section 40(ba)</h1> The amendment modifies section 40 of the Income-tax Act, introducing a new clause (ba) that disallows certain payments made by associations of persons to their members. This includes interest, salary, bonus, commission, or remuneration. The amendment provides detailed explanations for calculating disallowed interest, addressing scenarios involving member-to-association payments and payments made in representative capacities. The provision aims to regulate financial transactions within non-corporate entities for tax purposes.
TaxTMI 
TaxTMI 
