Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
The Central Government exempts a pollution control board, constituted under the Air and Water (Prevention & Control of Pollution) Acts, from specified income tax under section 10(46A) of the Income-tax Act, 1961, effective from the assessment year 2025-2026. This exemption applies provided the board continues to operate under the relevant Acts and fulfills the purposes outlined in the Income-tax Act. The notification confirms no adverse impact on any person due to its retrospective effect.
The Central Government exempts a pollution control board, constituted under the Air and Water (Prevention & Control of Pollution) Acts, from specified income tax under section 10(46A) of the Income-tax Act, 1961, effective from the assessment year 2025-2026. This exemption applies provided the board continues to operate under the relevant Acts and fulfills the purposes outlined in the Income-tax Act. The notification confirms no adverse impact on any person due to its retrospective effect.
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