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, under the powers of section 10(46) of the Income-tax Act, 1961, has exempted specified income of the District Legal Service Authorities in Haryana from taxation. This exemption applies to grants, donations, court-ordered amounts, recruitment application fees, and interest on bank deposits received by these authorities. The exemption is conditional on the authorities refraining from commercial activities, maintaining consistent income nature, and filing income returns as per section 139(4C)(g). The notification applies retrospectively from assessment year 2024-25 and prospectively through 2028-29. This measure recognizes the District Legal Service Authorities as a class of bodies entitled to tax exemption for specified income, reinforcing their non-commercial and statutory role without adversely affecting any party.
The Central Government, under the powers of section 10(46) of the Income-tax Act, 1961, has exempted specified income of the District Legal Service Authorities in Haryana from taxation. This exemption applies to grants, donations, court-ordered amounts, recruitment application fees, and interest on bank deposits received by these authorities. The exemption is conditional on the authorities refraining from commercial activities, maintaining consistent income nature, and filing income returns as per section 139(4C)(g). The notification applies retrospectively from assessment year 2024-25 and prospectively through 2028-29. This measure recognizes the District Legal Service Authorities as a class of bodies entitled to tax exemption for specified income, reinforcing their non-commercial and statutory role without adversely affecting any party.
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