Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
CBDT has standardized the application process for income tax exemption under section 10(46A) of Income Tax Act, 1961. Non-company entities established under Central/State Acts for housing, urban development, or public benefit regulation must file applications with jurisdictional Pr. CIT/CIT/Pr. DIT/DIT. Applications require submission in prescribed format (Annexure A) to Under Secretary (ITA-I), CBDT with acknowledgment from jurisdictional authority. The checklist mandates comprehensive details including legal status, statutory basis, nature of activities, existing tax approvals/registrations, and three years' financial records. This streamlines exemption requests for qualifying bodies while ensuring proper documentation and jurisdictional oversight.
CBDT has standardized the application process for income tax exemption under section 10(46A) of Income Tax Act, 1961. Non-company entities established under Central/State Acts for housing, urban development, or public benefit regulation must file applications with jurisdictional Pr. CIT/CIT/Pr. DIT/DIT. Applications require submission in prescribed format (Annexure A) to Under Secretary (ITA-I), CBDT with acknowledgment from jurisdictional authority. The checklist mandates comprehensive details including legal status, statutory basis, nature of activities, existing tax approvals/registrations, and three years' financial records. This streamlines exemption requests for qualifying bodies while ensuring proper documentation and jurisdictional oversight.
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