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 has notified that a state real estate regulatory authority is exempt under section 10(46A) from income tax on specified income comprising government grants/loans/advances, fees and penalties under the Real Estate (Regulation and Development) Act, 2016, and interest on these amounts, subject to conditions that the authority does not engage in commercial activity, the nature of activities and specified income remain unchanged across financial years, and the authority files returns as required under section 139(4C)(g); the notification is given retrospective and prospective effect for specified assessment years.
The government has notified that a state real estate regulatory authority is exempt under section 10(46A) from income tax on specified income comprising government grants/loans/advances, fees and penalties under the Real Estate (Regulation and Development) Act, 2016, and interest on these amounts, subject to conditions that the authority does not engage in commercial activity, the nature of activities and specified income remain unchanged across financial years, and the authority files returns as required under section 139(4C)(g); the notification is given retrospective and prospective effect for specified assessment years.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
