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 specified income of a State Pollution Control Board constituted under the Water (Prevention and Control of Pollution) Act, 1974, from income tax under section 10(46) of the Income-tax Act, 1961. The exemption covers income such as government grants, consent fees, analysis fees, authorization fees, cess reimbursements, RTI fees, interest on staff loans, miscellaneous income, testing fees, NOC fees, public hearing fees, recognition fees, and interest on fixed deposits. Conditions include no engagement in commercial activities, consistency in activities and income nature, and filing income tax returns as per prescribed provisions. The exemption is effective retrospectively from the financial year 2024-25 and applies through 2028-29. No adverse effect on any person is certified due to the retrospective application.
The Central Government exempts specified income of a State Pollution Control Board constituted under the Water (Prevention and Control of Pollution) Act, 1974, from income tax under section 10(46) of the Income-tax Act, 1961. The exemption covers income such as government grants, consent fees, analysis fees, authorization fees, cess reimbursements, RTI fees, interest on staff loans, miscellaneous income, testing fees, NOC fees, public hearing fees, recognition fees, and interest on fixed deposits. Conditions include no engagement in commercial activities, consistency in activities and income nature, and filing income tax returns as per prescribed provisions. The exemption is effective retrospectively from the financial year 2024-25 and applies through 2028-29. No adverse effect on any person is certified due to the retrospective application.
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