Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The Central Government issued Notification No. 66/2025 under section 10(46) of the Income Tax Act, 1961, granting tax exemption to the Forum of Regulators, a statutory authority established under the Electricity Act, 2003. The exemption applies to specified income including government grants, membership fees from electricity regulatory commissions, and interest on bank deposits. The notification operates retrospectively from FY 2011-12 to 2015-16, covering assessment years 2012-13 to 2016-17. Exemption conditions require the authority to refrain from commercial activities, maintain unchanged income nature, and file mandatory returns under section 139(4C)(g). The government certified no adverse impact from the retrospective application of this tax exemption notification.
The Central Government issued Notification No. 66/2025 under section 10(46) of the Income Tax Act, 1961, granting tax exemption to the Forum of Regulators, a statutory authority established under the Electricity Act, 2003. The exemption applies to specified income including government grants, membership fees from electricity regulatory commissions, and interest on bank deposits. The notification operates retrospectively from FY 2011-12 to 2015-16, covering assessment years 2012-13 to 2016-17. Exemption conditions require the authority to refrain from commercial activities, maintain unchanged income nature, and file mandatory returns under section 139(4C)(g). The government certified no adverse impact from the retrospective application of this tax exemption notification.
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