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 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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