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 exempts the specified income of a state-constituted welfare board for building and construction workers from income tax under section 10(46) of the Income-tax Act, 1961. The exempted income includes cess received, registration and renewal fees collected from workers, and interest on bank deposits. The exemption is conditional on the board not engaging in commercial activities, maintaining the nature of income and activities unchanged, and filing income tax returns as required. The notification applies retrospectively for assessment years 2019-2020 to 2023-2024.
The Central Government exempts the specified income of a state-constituted welfare board for building and construction workers from income tax under section 10(46) of the Income-tax Act, 1961. The exempted income includes cess received, registration and renewal fees collected from workers, and interest on bank deposits. The exemption is conditional on the board not engaging in commercial activities, maintaining the nature of income and activities unchanged, and filing income tax returns as required. The notification applies retrospectively for assessment years 2019-2020 to 2023-2024.
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