Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Page of 4794
Press 'Enter' after typing page number.
1 to 20 of 95872 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The CBDT has issued a circular which addresses conditions under which income from specific funds, trusts, institutions, universities, educational, or medical institutions can enjoy tax exemption under the Income-tax Act, 1961. It outlines that at least 85% of such entities' income must be used for charitable or religious purposes, directly or through donations to similar entities. Amendments by the Finance Act 2023 clarify that only 85% of eligible donations are considered for charitable or religious application, with the balance 15% not needing to be invested per section 11(5) for exemption eligibility.
The CBDT has issued a circular which addresses conditions under which income from specific funds, trusts, institutions, universities, educational, or medical institutions can enjoy tax exemption under the Income-tax Act, 1961. It outlines that at least 85% of such entities' income must be used for charitable or religious purposes, directly or through donations to similar entities. Amendments by the Finance Act 2023 clarify that only 85% of eligible donations are considered for charitable or religious application, with the balance 15% not needing to be invested per section 11(5) for exemption eligibility.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
