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 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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