Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
A government council established by the Central Government is notified as exempt from specified income tax under section 10(46) of the Income-tax Act, 1961, for certain types of income including government grants, regulatory charges, fees related to information requests and examinations, interest on bank deposits, and miscellaneous receipts. The exemption is conditional on the council not engaging in commercial activities, maintaining consistent income sources, and filing income tax returns as required. The notification applies retrospectively from assessment years 2024-2025 to 2025-2026 and prospectively through assessment year 2028-2029. No adverse effects on any person are certified due to the retrospective application.
A government council established by the Central Government is notified as exempt from specified income tax under section 10(46) of the Income-tax Act, 1961, for certain types of income including government grants, regulatory charges, fees related to information requests and examinations, interest on bank deposits, and miscellaneous receipts. The exemption is conditional on the council not engaging in commercial activities, maintaining consistent income sources, and filing income tax returns as required. The notification applies retrospectively from assessment years 2024-2025 to 2025-2026 and prospectively through assessment year 2028-2029. No adverse effects on any person are certified due to the retrospective application.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
