Ownership threshold clarifies public ownership requirement for tax exemption, allowing direct or indirect government control. Amends Notification No.12/2017 to add an Explanation clarifying that an entity qualifies for the specified exemption only where the Central Government, State Government or Union territory holds fifty percent or more ownership, directly or indirectly through an entity wholly owned by the Central Government, State Government or Union territory.
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.
Ownership threshold clarifies public ownership requirement for tax exemption, allowing direct or indirect government control.
Amends Notification No.12/2017 to add an Explanation clarifying that an entity qualifies for the specified exemption only where the Central Government, State Government or Union territory holds fifty percent or more ownership, directly or indirectly through an entity wholly owned by the Central Government, State Government or Union territory.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
