Business upkeep expenses despite no revenue, director's interest-free advances, and property gift additions-disallowances and notional interest delete...
Insolvency resolution plan's loan assignment between approving and dissenting creditors: post-approval redistribution blocked; original distribution e...
The Central Government, exercising powers under section 10(46) of the Income-tax Act, 1961, grants tax exemption on specified income of a state technical education board in Haryana constituted by the state government. Exempt income includes government grants, various fees (affiliation, examination, migration, transcription), royalties, penalties, donations, endowments, sale proceeds of securities, rental income from vested property, and interest on bank deposits. The exemption is conditional on the board not engaging in commercial activities, maintaining the same nature of activities and income, and filing returns under section 139(4C)(g). The notification applies retrospectively from AY 2025-26 through AY 2029-30, with confirmation of no adverse effect.
The Central Government, exercising powers under section 10(46) of the Income-tax Act, 1961, grants tax exemption on specified income of a state technical education board in Haryana constituted by the state government. Exempt income includes government grants, various fees (affiliation, examination, migration, transcription), royalties, penalties, donations, endowments, sale proceeds of securities, rental income from vested property, and interest on bank deposits. The exemption is conditional on the board not engaging in commercial activities, maintaining the same nature of activities and income, and filing returns under section 139(4C)(g). The notification applies retrospectively from AY 2025-26 through AY 2029-30, with confirmation of no adverse effect.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
