https://www.taxtmi.com/acts?id=20394 Amendments to section 10 narrow certain exemption entitlements: accumulated provident fund balances attributable to employee contributions made on or after 1 April 2016 by non-excluded employees exceeding a capped proportion will not be exempt; payments from the National Pension System Trust on account closure or opting out are exempt only up to a capped proportion; annuity commutations sourced from post-1 April 2016 contributions exceeding the cap are taxable. The changes also clarify exemptions for gold monetisation interest, securitisation definitions, business trust income characterisation, dividend excesses, IFSC transactions, foreign company crude storage sales subject to Central Government notification, and equalisation-levy linked services. en-us Mon, 29 Feb 2016 16:14:30 +0530 Mon, 29 Feb 2016 18:49:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20394 Amendments to section 10 narrow certain exemption entitlements: accumulated provident fund balances attributable to employee contributions made on or after 1 April 2016 by non-excluded employees exceeding a capped proportion will not be exempt; payments from the National Pension System Trust on account closure or opting out are exempt only up to a capped proportion; annuity commutations sourced from post-1 April 2016 contributions exceeding the cap are taxable. The changes also clarify exemptions for gold monetisation interest, securitisation definitions, business trust income characterisation, dividend excesses, IFSC transactions, foreign company crude storage sales subject to Central Government notification, and equalisation-levy linked services. Act-Rules Bill Mon, 29 Feb 2016 16:14:30 +0530 https://www.taxtmi.com/acts?id=20394