Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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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.
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