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Section 10(46) of the Income-tax Act, 1961 – Central Government notifies Competition Commission of India , a Commission established under sub-section (1) of section 7 of the Competition Act, 2002 (12 of 2003), in respect of the certain specified income arising to the said Commission - 8/2016 - Income Tax Act, 1961
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Tax exemption for competition regulator income conditioned on non commercial activity and prescribed return filing. Notification exempts specified income of the Competition Commission-government grants, fees under the Competition Act and interest on those amounts-from tax under clause (46) of section 10, subject to conditions that the Commission not engage in commercial activity, maintain unchanged activities and income character, and file returns as prescribed; the exemption applies for the financial years specified in the instrument.
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 competition regulator income conditioned on non commercial activity and prescribed return filing.
Notification exempts specified income of the Competition Commission-government grants, fees under the Competition Act and interest on those amounts-from tax under clause (46) of section 10, subject to conditions that the Commission not engage in commercial activity, maintain unchanged activities and income character, and file returns as prescribed; the exemption applies for the financial years specified in the instrument.
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