Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Specified allowances payable to High Court and Supreme Court Judges are, prima facie, excluded from salary-income computation under overriding non-obstante clauses governing judicial service conditions. They are treated as receipts not in the nature of income rather than deductions or exemptions, so the optional new tax regime's restrictions on deductions and exemptions do not appear to apply. Pending consideration of the writ petition, Judges may disclose these allowances as non-income receipts, and the related income-tax returns are not to be processed until further orders.
Specified allowances payable to High Court and Supreme Court Judges are, prima facie, excluded from salary-income computation under overriding non-obstante clauses governing judicial service conditions. They are treated as receipts not in the nature of income rather than deductions or exemptions, so the optional new tax regime's restrictions on deductions and exemptions do not appear to apply. Pending consideration of the writ petition, Judges may disclose these allowances as non-income receipts, and the related income-tax returns are not to be processed until further orders.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
