Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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.
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