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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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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