Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
West Bengal Building and Other Construction Workers Welfare Board is notified as eligible for exemption under section 10(46) of the Income-tax Act in respect of (a) cess collected under the Building and Other Construction Workers Welfare Cess Act and related rules, (b) registration fees and annual subscriptions from registered beneficiaries, (c) grants-in-aid and government loans, and (d) interest on investments, with the operative effect that such specified receipts are exempt from taxation under section 10(46). The Board must not engage in commercial activity, must maintain the nature of the specified income, and must file returns as required by clause (g) of section 139(4C); breach may trigger penal action and withdrawal of the exemption. The notification is deemed effective for assessment years 2022-23 through 2025-26 and applies to assessment year 2026-27.
West Bengal Building and Other Construction Workers Welfare Board is notified as eligible for exemption under section 10(46) of the Income-tax Act in respect of (a) cess collected under the Building and Other Construction Workers Welfare Cess Act and related rules, (b) registration fees and annual subscriptions from registered beneficiaries, (c) grants-in-aid and government loans, and (d) interest on investments, with the operative effect that such specified receipts are exempt from taxation under section 10(46). The Board must not engage in commercial activity, must maintain the nature of the specified income, and must file returns as required by clause (g) of section 139(4C); breach may trigger penal action and withdrawal of the exemption. The notification is deemed effective for assessment years 2022-23 through 2025-26 and applies to assessment year 2026-27.
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