Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
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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.
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