Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Section 115BAC permits a person with business or professional income to continue under the new tax regime in subsequent assessment years once the option has been validly exercised in the prescribed manner, unless it is withdrawn under the statutory proviso. The text explains that a valid Form 10-IE filed for an earlier assessment year sustains the option, and an inadvertent error in a later return stating an incorrect first year of exercise should not negate that continuing entitlement. It notes that tax computation for the relevant year should therefore follow the new regime where no withdrawal has occurred.
Section 115BAC permits a person with business or professional income to continue under the new tax regime in subsequent assessment years once the option has been validly exercised in the prescribed manner, unless it is withdrawn under the statutory proviso. The text explains that a valid Form 10-IE filed for an earlier assessment year sustains the option, and an inadvertent error in a later return stating an incorrect first year of exercise should not negate that continuing entitlement. It notes that tax computation for the relevant year should therefore follow the new regime where no withdrawal has occurred.
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