Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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...
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The Central Government exempts a State Government constituted Trust from income tax under section 10(46) of the Income-tax Act, 1961, for specified income including interest from bank deposits, interest on term loans to Urban Local Bodies, and upfront processing fees. The exemption applies retrospectively from financial year 2021-22 through 2025-26, subject to conditions that the Trust does not engage in commercial activities, maintains the nature of specified income, and files income tax returns as required. The notification confirms no adverse effect on any person due to its retrospective application.
The Central Government exempts a State Government constituted Trust from income tax under section 10(46) of the Income-tax Act, 1961, for specified income including interest from bank deposits, interest on term loans to Urban Local Bodies, and upfront processing fees. The exemption applies retrospectively from financial year 2021-22 through 2025-26, subject to conditions that the Trust does not engage in commercial activities, maintains the nature of specified income, and files income tax returns as required. The notification confirms no adverse effect on any person due to its retrospective application.
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