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 11(6) bars depreciation as application of income for charitable purposes only where the acquisition cost of the relevant asset has already been claimed as application of income in the same or an earlier year. Where a charitable institution has not claimed capital expenditure on acquiring fixed assets as revenue application and claims only depreciation, the restriction does not create a double deduction. Depreciation on those fixed assets may therefore be treated as allowable application of income for the relevant assessment year.
Section 11(6) bars depreciation as application of income for charitable purposes only where the acquisition cost of the relevant asset has already been claimed as application of income in the same or an earlier year. Where a charitable institution has not claimed capital expenditure on acquiring fixed assets as revenue application and claims only depreciation, the restriction does not create a double deduction. Depreciation on those fixed assets may therefore be treated as allowable application of income for the relevant assessment year.
Note: It is a system-generated summary and is for quick reference only.
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