Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The government notifies that a government-constituted trust established under an animal husbandry/dairying stimulus will be exempt from tax under the specified income provision of the Income-tax Act for guarantee fees from eligible lending institutions, mutual fund income, miscellaneous income, and interest from banks/financial institutions, subject to conditions: the trust must not engage in commercial activity, its activities and specified income must remain unchanged during the financial years, and it must file returns as required by the Act; the notification operates retrospectively for assessment year 2025-26 and applies through assessment year 2029-30.
The government notifies that a government-constituted trust established under an animal husbandry/dairying stimulus will be exempt from tax under the specified income provision of the Income-tax Act for guarantee fees from eligible lending institutions, mutual fund income, miscellaneous income, and interest from banks/financial institutions, subject to conditions: the trust must not engage in commercial activity, its activities and specified income must remain unchanged during the financial years, and it must file returns as required by the Act; the notification operates retrospectively for assessment year 2025-26 and applies through assessment year 2029-30.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
