Section 115BBE classification requires a valid deeming-provision basis before special taxation, while the enhanced rate's temporal application remains...
Coercive recovery during GST searches is restrained pending scrutiny, preserving normal business operations and requiring adherence to investigation g...
For charitable trusts, bank fixed deposits made for six months...
Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income application.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
For charitable trusts, bank fixed deposits made for six months or more from the net consideration received on transfer of trust property qualify as another capital asset for capital-gains exemption under section 11(1A). CBDT Instruction No. 883 extends the expression to such deposits. Form No. 10 is unnecessary where the consideration has already been invested rather than accumulated for later application. Unrecoverable tax deducted at source may be treated as application of income where no refund has been claimed and the amount has a direct nexus with the trust's income receipts.
For charitable trusts, bank fixed deposits made for six months or more from the net consideration received on transfer of trust property qualify as another capital asset for capital-gains exemption under section 11(1A). CBDT Instruction No. 883 extends the expression to such deposits. Form No. 10 is unnecessary where the consideration has already been invested rather than accumulated for later application. Unrecoverable tax deducted at source may be treated as application of income where no refund has been claimed and the amount has a direct nexus with the trust's income receipts.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
