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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A parliamentary committee reviewing the new Income Tax Bill, 2025, recommended allowing individual taxpayers to claim TDS refunds by filing returns after the due date without penalty and exempting anonymous donations to religious-cum-charitable trusts from taxation. The committee opposed taxing receipts of non-profit organizations, advocating instead for taxing only net income. It highlighted the adverse impact of the Bill's proposed 30% tax on anonymous donations to registered NPOs, urging reinstatement of provisions similar to the existing law that exempts such donations to trusts with mixed religious and charitable purposes. Additionally, the committee recommended removing the mandatory timely filing requirement for refund claims to prevent penalizing small taxpayers who are below the taxable income threshold but have had tax deducted at source.
A parliamentary committee reviewing the new Income Tax Bill, 2025, recommended allowing individual taxpayers to claim TDS refunds by filing returns after the due date without penalty and exempting anonymous donations to religious-cum-charitable trusts from taxation. The committee opposed taxing receipts of non-profit organizations, advocating instead for taxing only net income. It highlighted the adverse impact of the Bill's proposed 30% tax on anonymous donations to registered NPOs, urging reinstatement of provisions similar to the existing law that exempts such donations to trusts with mixed religious and charitable purposes. Additionally, the committee recommended removing the mandatory timely filing requirement for refund claims to prevent penalizing small taxpayers who are below the taxable income threshold but have had tax deducted at source.
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