Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
The Central Government, u/s 10(46) of the Income-tax Act, 1961, has exempted the Kerala Co-operative Deposit Guarantee Fund Board from specified income tax. The Board must receive contributions from the Government of Kerala and defined societies, and interest on bank deposits. Conditions include no commercial activities, unchanged income nature, and filing returns as per section 139(4C). The exemption applies for assessment years 2019-2024, relevant to financial years 2018-2023. The notification ensures no adverse impact on any individual due to retrospective effect.
The Central Government, u/s 10(46) of the Income-tax Act, 1961, has exempted the Kerala Co-operative Deposit Guarantee Fund Board from specified income tax. The Board must receive contributions from the Government of Kerala and defined societies, and interest on bank deposits. Conditions include no commercial activities, unchanged income nature, and filing returns as per section 139(4C). The exemption applies for assessment years 2019-2024, relevant to financial years 2018-2023. The notification ensures no adverse impact on any individual due to retrospective effect.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
