Exemption of living allowance for foreign trainees permitted temporarily; future treatment to follow amended section 10 provisions. Living allowances paid to foreign nationals training in India under Colombo Plan, SCAAP and ITEC may be treated as exempt under section 10(14)/section 10(16) of the Income-tax Act, 1961 for and up to the assessment year 1988-89. After that period, the exemption and tax treatment will be governed by the substituted provisions of section 10(14) introduced by the Direct Tax Laws (Amendment) Act, 1987 effective 1 April 1989.
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 of living allowance for foreign trainees permitted temporarily; future treatment to follow amended section 10 provisions.
Living allowances paid to foreign nationals training in India under Colombo Plan, SCAAP and ITEC may be treated as exempt under section 10(14)/section 10(16) of the Income-tax Act, 1961 for and up to the assessment year 1988-89. After that period, the exemption and tax treatment will be governed by the substituted provisions of section 10(14) introduced by the Direct Tax Laws (Amendment) Act, 1987 effective 1 April 1989.
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 
