Tax exemption for the New Development Bank is made conditional on furnishing information in the prescribed manner. Schedule VII to the Income-tax Act is amended to insert a new entry for the New Development Bank. The exemption is conditional on furnishing information in the prescribed form and manner, so the exemption operates only subject to compliance with the specified reporting requirement.
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 exemption for the New Development Bank is made conditional on furnishing information in the prescribed manner.
Schedule VII to the Income-tax Act is amended to insert a new entry for the New Development Bank. The exemption is conditional on furnishing information in the prescribed form and manner, so the exemption operates only subject to compliance with the specified reporting requirement.
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