Section 10(46) of the Income-tax Act, 1961 – Central Government notifies for the constitution of 'North East Centre for Technology Application and Reach”. - 84/2014 - Income Tax Act, 1961
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Tax exemption for notified research body: grants and interest exempt subject to noncommercial use and compliance filing. Notification under clause (46) of section 10 exempts the North East Centre for Technology Application and Reach from tax on two categories of income-grants in aid and interest on those grants-subject to conditions: no commercial activity, unchanged activities and specified income during the financial year, and filing the return of income as required; grants must be received and applied per prevailing rules and regulations.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption for notified research body: grants and interest exempt subject to noncommercial use and compliance filing.
Notification under clause (46) of section 10 exempts the North East Centre for Technology Application and Reach from tax on two categories of income-grants in aid and interest on those grants-subject to conditions: no commercial activity, unchanged activities and specified income during the financial year, and filing the return of income as required; grants must be received and applied per prevailing rules and regulations.
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