Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
This notification brings into force various provisions of the Finance (No. 2) Act, 2024. On the date of publication, sections 118, 142, 148, and 150 come into effect. Sections 114 to 117, 119 to 141, 143 to 147, 149, and 151 to 157 come into force on November 1, 2024. The notification is issued by the Central Board of Indirect Taxes and Customs under the Ministry of Finance, exercising powers conferred by the Finance Act.
This notification brings into force various provisions of the Finance (No. 2) Act, 2024. On the date of publication, sections 118, 142, 148, and 150 come into effect. Sections 114 to 117, 119 to 141, 143 to 147, 149, and 151 to 157 come into force on November 1, 2024. The notification is issued by the Central Board of Indirect Taxes and Customs under the Ministry of Finance, exercising powers conferred by the Finance Act.
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