Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
The doctrine of mutuality excludes surplus from a co-operative housing society's maintenance charges, property-tax recoveries and other member collections where contributors and participators are identical, funds serve common member purposes, and there are no non-member receipts or commercial activity. A year-end surplus merely augments the common fund and does not become taxable income. The notes also state that an audited co-operative society may file its return by the applicable audit-related due date; where filed within that date, late-filing fee under section 234F is not sustainable.
The doctrine of mutuality excludes surplus from a co-operative housing society's maintenance charges, property-tax recoveries and other member collections where contributors and participators are identical, funds serve common member purposes, and there are no non-member receipts or commercial activity. A year-end surplus merely augments the common fund and does not become taxable income. The notes also state that an audited co-operative society may file its return by the applicable audit-related due date; where filed within that date, late-filing fee under section 234F is not sustainable.
Note: It is a system-generated summary and is for quick reference only.
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