Just a moment...

Top
Help
×

By creating an account you can:

Logo TaxTMI
>
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 TMI Notes - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Law:
---- All Laws----
  • ---- All Laws----
  • Benami Property
  • Bill
  • Central Excise
  • Companies Law
  • Customs
  • DGFT
  • FEMA
  • GST
  • GST - States
  • IBC
  • Income Tax
  • Indian Laws
  • Money Laundering
  • SEBI
  • SEZ
  • Service Tax
  • VAT / Sales Tax
Types:
---- All Types ----
  • ---- All Types ----
  • Act Rules
  • Case Laws
  • Circulars
  • Manuals
  • News
  • Notifications
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
RelevanceDefaultDate
    NewsGST
    Bill-To Ship-To E-Way Bill Compliance, Portal Closure and Transit Controls: GST E-Way Bills: Rule 13...
    E-Way Bill Requirements Under Rule 138: GST E-Way Bill Framework for Movement of Goods, Transit Docu...
    Case LawsCustoms
    Limits of Website Upload (of Notifications) as Notice for Delegated Legislation Where the Parent Sta...
    Case LawsIndian Laws
    Illegality of Arrest and Remand for Non-Supply of Written Grounds: The Two-Hour Pre-Remand Standard ...
    When Trademark Ownership Controversies Fall Outside Insolvency Adjudication: Application of the 'Nex...
    Locus Standi - Intervention by Homebuyer Societies in Insolvency Proceedings: Statutory Limits under...
    NewsBill
    Rates of income-tax in respect of income liable to tax for the assessment year 2026-27 for the purpo...
    NewsBill
    Tax rates under section 115BAC of the Income-tax Act, 1961
    NewsBill
    Individual, HUF, association of persons, body of individuals, artificial juridical person.
    NewsBill
    Co-operative Societies
    NewsBill
    Firms
    NewsBill
    Local authorities
    NewsBill
    Companies
    NewsBill
    Rates of income-tax in respect of income liable to tax for the tax year 2026-27 for the purposes of ...
    NewsBill
    Tax rates under section 202
    NewsBill
    Individual, HUF, association of persons, body of individuals, artificial juridical person.
    NewsBill
    Co-operative Societies
    NewsBill
    Firms
    NewsBill
    Local authorities
    NewsBill
    Companies
❯❯
MaximizeMaximizeMaximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

    +

    Are you sure you want to delete "My most important" ?

    NOTE:

    Notes
    Showing Results for :
    Reset Filters
    Results Found:
    Show All SummariesHide All Summaries
    NewsGST
    Show AI Summary
    E-way bill compliance strengthens traceability through Ship-To GSTIN capture, voluntary closure, and disciplined transit controls.
    Rule 138 and Rule 138A require pre-movement e-way bill generation, carriage of the prescribed invoice or challan documents, and distance-based validity, with cancellation confined to cases where goods are not transported as declared. The portal advisory adds mandatory Ship-To GSTIN capture in Bill-To/Ship-To transactions and a voluntary post-delivery closure facility, while circular guidance treats transporter godowns as an additional place of business when declared by the recipient. Enforcement under Section 129 and Section 130 distinguishes detention for transit contravention from confiscation linked to intent to evade tax, and minor e-way bill defects are described as technical lapses rather than automatic proof of evasion.
    Act RulesGST
    Show AI Summary
    E-way bill compliance under GST rules governs prior movement information, transit documents, validity, cancellation, and special goods regimes.
    Rule 138 of the Central Goods and Services Tax Rules, 2017 governs the e-way bill system for movement of goods and requires prior electronic information before movement begins in specified cases, generally where consignment value exceeds fifty thousand rupees. The rule allocates responsibility for Part A and Part B of FORM GST EWB-01 among registered persons, authorised transporters, e-commerce operators, courier agencies and fallback transporters, while also covering special cases such as job work, handicraft goods, consolidated movement and transport by road, rail, air or vessel. Rule 138A specifies the documents that must accompany the conveyance, Rule 138 provides validity, cancellation and exemption rules, and Rule 138F creates a special intra-State regime for notified precious goods.
    Case LawsCustoms
    Show AI Summary
    Import regulation: Gazette publication is required before a notification binds importers; website uploads do not suffice for enforceability.
    Publication in the Official Gazette is a condition precedent to the enforceability of notifications under Section 3 of the Foreign Trade (Development and Regulation) Act, 1992; website uploads cannot substitute for Gazette promulgation. Internal references to the "date of this Notification" must be read as the Gazette publication date, and where a notification incorporates paragraph 1.05(b) of the Foreign Trade Policy, transitional protection applies if its objective conditions (LC established before imposition, timely registration, shipment within validity) are satisfied.
    Case LawsIndian Laws
    Show AI Summary
    Arrest communication: written grounds generally required; oral only temporarily, written copy at least two hours before remand.
    The obligation to communicate grounds of arrest applies across statutes and, as a rule, must be met by supplying written grounds in a language the arrestee understands. In exceptional exigencies oral communication at arrest is permissible temporarily, but a written copy must be provided within a reasonable time and no later than two hours before production for remand; remand papers must include the grounds and explain any delay. Non compliance renders the arrest and remand illegal, though authorities may seek fresh custody after supplying written grounds with reasons for earlier non supply.
    Case LawsIBC
    Show AI Summary
    Trademark ownership disputes in insolvency require a clear nexus to CIRP; complex title issues belong to full proceedings.
    A disputed trademark cannot be declared an asset of the corporate debtor in summary CIRP proceedings absent a demonstrable nexus with insolvency; where title turns on contested private transactions and rival claims, the approved resolution plan governs stakeholders and summary disposition that effectively alters plan rights is impermissible. Avoidance conclusions require properly pleaded applications, material and notice; absent these safeguards, invoking preferential or undervalued transaction provisions in collateral proceedings violates natural justice.
    Case LawsIBC
    Show AI Summary
    Homebuyer societies' intervention in insolvency is limited; representation must follow authorised representative routes post-admission.
    Locus standi under the IBC is stage-sensitive: pre-admission proceedings are in personam and participation is confined to the applicant and corporate debtor, while post-admission proceedings are in rem and allow broader standing subject to statutory channels. Individual allottees recognised as financial creditors must be represented through the Code's authorised-representation mechanisms rather than by separate societies asserting membership rights, and inherent tribunal powers cannot create substantive participatory rights absent statutory basis.
    NewsBill
    Show AI Summary
    Income-tax rates for assessment year 2026-27 remain unchanged; schedule placement for advance tax and salary TDS is preserved.
    Tax rates for assessment year 2026-27 remain unchanged and continue to be prescribed either in specific sections of the Income-tax Act (including concessional regimes for domestic companies, cooperative societies and the alternate individual regime) or in the First Schedule. Rates formerly listed in Part III of the First Schedule to the Finance Act, 2025 - used for advance tax computation, TDS from salaries and charging tax payable in certain cases - are reclassified as Part I of the First Schedule for AY 2026-27.
    NewsBill
    Show AI Summary
    Tax rates under section 115BAC prescribe slab rates up to 30% with surcharge tiers and caps on dividend and capital gains.
    Section 115BAC(1A) sets default slab rates for certain resident taxpayers ranging from nil up to 30% above Rs.24,00,000; these apply unless an option under section 115BAC(6) is exercised. Income-tax under clause (1A)(iii) is subject to surcharge tiers (10%, 15%, 25%) based on total-income thresholds, with the surcharge on dividend income and specified capital gains capped at 15% and a 15% cap also for associations of persons consisting only of companies. Marginal relief is available.
    NewsBill
    Show AI Summary
    Individual tax rates set in the Finance Bill 2026: progressive slabs with higher nil thresholds for senior residents.
    The Finance Bill 2026 prescribes progressive income-tax slabs for individuals, HUFs, associations of persons, bodies of individuals and artificial juridical persons: nil up to Rs. 2,50,000; 5% on Rs. 2,50,001-5,00,000; 20% on Rs. 5,00,001-10,00,000; 30% above Rs. 10,00,000; with higher nil thresholds for resident senior citizens (Rs. 3,00,000 for 60-79 years; Rs. 5,00,000 for 80+), and states these rates mirror the prior year.
    NewsBill
    Show AI Summary
    Co-operative societies: the Finance Bill preserves the existing three-band income-tax rate structure (10%, 20%, 30%).
    Specified income-tax rates for co-operative societies are set out in Paragraph B of Part I-A of the First Schedule to the Finance Bill. The Bill retains the existing three-band structure: 10% on income up to the first band, 20% on the middle band, and 30% on income above the top band, thereby preserving the prior rate structure for co-operative societies.
    NewsBill
    Show AI Summary
    Firms' income-tax rate unchanged at 30% under the Finance Bill, specified in Paragraph C of Part I-A.
    The Finance Bill specifies the income-tax rate for firms in Paragraph C of Part I A of the First Schedule, maintaining the rate at 30%.
    NewsBill
    Show AI Summary
    Local authorities: income-tax rate remains 30% under Paragraph D of Part I-A of the First Schedule in the Finance Bill.
    The Finance Bill specifies the income-tax rate for local authorities in Paragraph D of Part I-A of the First Schedule, fixing the rate at 30% and maintaining continuity for that taxpayer category.
    NewsBill
    Show AI Summary
    Union Budget corporate tax: 25% for smaller domestic firms, 30% generally, 35% for non-domestic, plus surcharge and 4% cess.
    Domestic companies with turnover or gross receipts up to Rs. 400 crore are taxed at 25%; other domestic companies at 30%; non-domestic companies at 35% on income other than that chargeable at special rates. Surcharge rates are unchanged, with the surcharge not applying to income of a specified fund and with a 25% cap on surcharge for persons under the referenced preferential regime for income above Rs. 5 crore (excluding dividend income and certain capital gains). Marginal relief is provided where surcharge applies. A 4% Health and Education Cess applies on income-tax inclusive of surcharge, with no marginal relief for the cess.
    NewsBill
    Show AI Summary
    Income-tax rates for 2026-27 remain unchanged across specified sections and Part I-B of the First Schedule.
    Income-tax rates for the tax year 2026-27 remain unchanged: rate provisions in the Act for domestic companies, individuals/HUFs/AOPs/BOIs/AJPs and cooperative societies and the rates set out in Part I-B of the First Schedule to the Bill are not amended and the existing rate structures continue to apply.
    NewsBill
    Show AI Summary
    Tax rates under section 202 set default slabs with surcharge bands, surcharge caps for specified cases, and marginal relief.
    Tax rates under section 202 set graded default income-tax slabs for specified taxpayers for 2026-27, subject to an option to elect an alternative regime; a surcharge applies to higher total income bands (with inclusion rules for dividend income and capital gains), surcharge caps where alternative provisions apply and for certain associations of persons, and marginal relief to alleviate threshold impacts.
    NewsBill
    Show AI Summary
    Income-tax 2026-27: new slab rates, optional Part I-B age-based slabs, and revised surcharge caps and relief.
    Section 202 prescribes progressive income-tax slabs for 2026-27 for individuals, HUFs, AOPs, BOIs and specified artificial juridical persons, while preserving an option under section 202(4) to adopt the Part I-B rates. Part I-B provides alternative slabs including age-based thresholds for senior and super senior residents. Computed tax (including specified dividend and capital gains) attracts a graduated surcharge with provisos capping surcharge on dividend/capital gains at 15%, limiting surcharge for company-only AOPs to 15%, and reducing the 37% surcharge to 25% for persons taxed under section 202; marginal relief applies.
    NewsBill
    Show AI Summary
    Co-operative societies: unchanged tax rates, tiered surcharge with marginal relief, and optional lower-rate tax regime with reduced surcharge.
    Co-operative societies are taxed under Paragraph B of Part I B of the First Schedule with rates unchanged from the prior year. Surcharge applies in tiers according to total income, with marginal relief available to reduce surcharge impact where appropriate. A resident co-operative society that satisfies prescribed conditions may elect an alternative lower-rate tax regime; when elected, a specified lower surcharge percentage applies to that tax.
    NewsBill
    Show AI Summary
    Firms: income-tax rate unchanged; 12% surcharge over one crore rupees with a cap limiting additional tax.
    Firms continue to pay the same specified rate of income-tax as in the prior year. A 12% surcharge applies where a firm's total income exceeds one crore rupees, but the total tax plus surcharge on income exceeding one crore rupees is limited so it does not exceed the tax on one crore rupees by more than the excess income.
    NewsBill
    Show AI Summary
    Local authorities face the same income-tax rate with a 12% surcharge above one crore, subject to a cap.
    Local authorities remain subject to the same income-tax rate as specified in Paragraph D of Part I-B of the First Schedule; a 12% surcharge on such income-tax applies where total income exceeds one crore rupees, but the combined income-tax and surcharge on income above one crore is limited so it does not exceed the income-tax on one crore rupees by more than the excess amount.
    NewsBill
    Show AI Summary
    Company tax rates: domestic companies 25% or 30% with opt-in 22% regime; non-domestic companies 35%; specified surcharges apply.
    The Finance Bill, 2026 sets company tax rates: domestic companies pay 25% if turnover/gross receipts for 2024-25 400 crore and under section 199, otherwise 30%; domestic companies may opt for section 200 at 22% with a 10% surcharge. Non-domestic companies are taxed at 35% on income not at special rates. Surcharges: domestic (excluding section 200/201 electors) 7% for income >1 crore 10 crore and 12% for income >10 crore; non-domestic 2% for >1 crore 10 crore and 5% for >10 crore. Marginal relief applies.

    TMI Notes

    Back

    All TMI Notes

    Showing Results for :
    Reset Filters
      No Records Found

      TMI Notes

      Back

      All TMI Notes

      whatsappJoin Channel
      Showing Results for : Reset Filters

      Comparison of section 354 "Application for approval for purpose of section 133(1)(b)(ii)." between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)

      12 September, 2025

      Contents
      Acts
      Rules & Regulations
      Summary
      Note

      Note

      -

      Bookmark

      Print

      Print

      Section 354 Application for approval for purpose of section 133(1)(b)(ii).

      Income-tax Act, 2025

      At a Glance

      Clause 354 of the Income Tax Bill, 2025 - Old Version sets out the statutory scheme for applications by registered non-profit organisations or specified persons for approval u/s 133(1)(b)(ii) (approval relevant to receipt of donations). It matters to charitable organisations, donors and tax authorities because approval enables donor deduction treatment under the linked provision. The Bill sets eligibility conditions, timelines for application and orders, procedural safeguards and validity periods for approvals. Effective date or commencement is Not stated in the document.

      Background & Scope

      Statutory hook: Clause 354 is drafted for the purpose of obtaining approval for application of section 133(1)(b)(ii) (as referenced in the heading). The provision governs who may apply (a registered non-profit organisation or a person referred to in Schedule III (Table: Sl. No. 1)), the conditions for eligibility, procedural stages for the Principal Commissioner or Commissioner, timelines for applications and orders, and the period of validity of approvals. The text contains no defined terms other than references to "tax year," "registered non-profit organisation," and the referenced Schedule III; definitions of those terms are Not stated in the document. The Bill prescribes that forms, manner, statements, verifications, certificates to donors and correction statements shall be "prescribed" but the prescriptive instruments themselves are Not stated in the document.

      Statutory Provision Mode

      Text & Scope

      Coverage: Clause 354 permits a registered non-profit organisation or a person listed in Schedule III (Table: Sl. No. 1) to apply to the Principal Commissioner or Commissioner for approval for the purpose of section 133(1)(b)(ii). The authority for application, the form and manner are to be as prescribed. The clause sets out seven express conditions (clauses (a) to (g)) that the applicant must satisfy or comply with:

      • (a) the organisation's activities are not expressed to benefit any particular religious community or caste;
      • (b) it is established in India for a charitable purpose and "does not incur any expenditure of an amount being 5% or more of its total income during a tax year which is of a religious nature";
      • (c) no instrument or rules allow transfer of whole or part of assets for any purpose other than a charitable purpose;
      • (d) it maintains regular accounts of receipts and expenditure;
      • (e) it prepares and delivers a prescribed statement for prescribed periods, in prescribed form and verified manner, within prescribed time, to the prescribed income-tax authority or an authorised person;
      • (f) it delivers correction statements for rectification or updating of the statement required under (e), in prescribed form and verified manner;
      • (g) it furnishes a certificate to the donor specifying the donation amount within a prescribed period from date of receipt, containing requisite particulars in the prescribed manner.

      Timelines and validity: Sub-section (2) contains a five-row Table specifying application time limits, time for the Principal Commissioner or Commissioner to pass orders, and the validity period of approval, distinguishing cases where activities have commenced, where activities have not commenced, provisional approvals, and expiry/renewal situations. The Table prescribes: provisional approvals for new applicants (three tax years), approvals for applicants with commenced activities (five tax years), and specific application windows and order timelines (one month for the month-end case; six months from end of quarter in other cases).

      Interpretation

      Legislative intent indicated by the text: The structure indicates an intent to balance facilitation of charitable funding (by providing a route to obtain approval relevant for donor deduction) with safeguards to ensure charitable character and compliance with other laws. The enumerated conditions focus on: non-discrimination by religion/caste; confinement of assets to charitable purposes; limits on religious expenditure; maintenance and submission of accurate accounts and statements; and donor-level certification. The procedural timeframe table suggests an intent to provide predictability in administrative processing. The text does not contain an express legislative statement of purpose or policy rationale beyond these provisions.

      Exceptions/Provisos

      No separate provisos or exceptions beyond the specified conditions and the Table are included in Clause 354. There are no express carve-outs for particular categories of organisations, acute exigencies, or definitions of "religious nature" expenditure. Any exceptions or further qualifying language is Not stated in the document.

      Illustrations

      • Example 1: A registered non-profit which has not commenced activities applies during the tax year from which it seeks approval; the authority must pass an order within "One months from the end of the month in which application is made" and, if provisional approval is granted, the approval is valid for "Three tax years commencing from the tax year in which such application is made." (This example follows the Table text.)
      • Example 2: A registered non-profit whose activities have commenced applies at any time during the tax year from which approval is sought; the authority has six months from the end of the quarter in which application is made to pass an order; if approved the validity is five tax years commencing from that tax year. (Derived directly from the Table.)
      • Example 3: An organisation incurs religious-nature expenditure equal to 5% of total income in a tax year. Under clause (b) its status is affected because clause (b) provides it "does not incur any expenditure of an amount being 5% or more..."-therefore, an organisation with exactly 5% religious expenditure would be ineligible. (The document does not provide a worked example; this is a textual reading of clause (b).)

      Interplay

      The clause refers to section 133(1)(b)(ii) as the substantive hook for approval but does not reproduce that section or explain the precise consequence of approval under that section. The clause references compliance "of such requirements of any other law in force" but does not specify which laws or how conflicts are to be resolved. The clause requires prescribed forms, statements and donor certificates but the relevant Rules or Notifications prescribing them are Not stated in the document. Interaction with income-tax assessment procedures, charitable trust law, the applicable Schedules (Schedule III), or other regulatory regimes is not elaborated in the text.

      Differences between the two provisions and practical impact

      • Reference to Schedule: Document 1 (Section 354, Income-tax Act, 2025) refers to "Schedule VII (Table: Sl. No. 1)"; Document 2 (Clause 354, Income Tax Bill, 2025 - Old Version) refers to "Schedule III (Table: Sl. No. 1)".
        • Practical impact: This change alters which classes of persons fall within the eligibility reference. The precise practical effect depends on the contents of the respective Schedules; those listed in Schedule III will differ from those in Schedule VII, so an entity's eligibility to apply may be expanded or narrowed depending on which Schedule applies. The document does not state the contents of either Schedule.
      • Religious-expenditure threshold wording: Document 1 states the applicant "does not incur any expenditure of an amount exceeding 5% of its total income during a tax year which is of a religious nature." Document 2 states the applicant "does not incur any expenditure of an amount being 5% or more of its total income during a tax year which is of a religious nature."
        • Practical impact: The two phrasings create different inclusive/exclusive thresholds. Document 1 prohibits expenditure that exceeds 5% (i.e., expenditure >5% is prohibited; expenditure equal to 5% appears permissible). Document 2 prohibits expenditure that is "5% or more" (i.e., expenditure >=5% is prohibited). This is a material drafting difference: under Document 2 an organisation whose religious-nature expenditure equals exactly 5% of total income would be ineligible; under Document 1 that organisation would appear eligible. The documents do not provide further clarifying definitions or examples.
      • Minor drafting differences in procedural wording: The order and phrasing in sub-section (3) differ slightly. Document 2 frames the inquiries as being "in order to satisfy himself as to the compliance of such requirements of any other law in force, as are material for the purpose of achieving its objects, and the genuineness of activities," with an explicit conjunctive linking; Document 1 lists genuineness and compliance first then continues.
        • Practical impact: These are drafting variations that change emphasis but, on their face, not the substantive standard-the authority must be satisfied as to genuineness and compliance. Absent further context or definitions, the operational test remains similar. The document does not state any interpretive guidance about how these differences should be resolved.
      • Other variations: Minor differences (for example "as prescribed" versus "as may be prescribed") are present.
        • Practical impact: These appear stylistic and do not, by themselves in the provided text, change substantive rights or obligations. The document does not state any consequential administrative guidance.

      Practical Implications

      • Eligibility screening: Applicants must ensure they satisfy the seven listed conditions. In particular, the religious-expenditure metric ("5% or more") is a hard threshold in the text and can render otherwise qualifying organisations ineligible if religious spending equals or exceeds that proportion. Organisations should carefully compute and document the nature of expenditures to demonstrate compliance with clause (b). The document does not provide a methodology for such calculation.
      • Record-keeping and reporting: Clauses (d), (e) and (f) require maintenance of regular accounts and submission (and correction) of prescribed statements. This creates clear record-keeping obligations; the precise contents, form, timing and verification procedures are to be prescribed and are Not stated in the document. The requirement to furnish donor certificates (clause (g)) imposes an administrative obligation on the recipient organisation.
      • Timelines for administrative action: The Table sets finite time windows for applicants to file and for the Principal Commissioner/Commissioner to decide; applicants should plan filings to avoid missed windows, especially on expiry/renewal scenarios where advance filings (at least six months) are mandated.
      • Risk of rejection/cancellation: Sub-section (3) allows the authority to call for documents and make inquiries; if not satisfied, it may reject an application (and in some cases cancel approval). The clause provides procedural fairness by requiring a reasonable opportunity of being heard before rejection, but the operational scope of inquiries and what constitutes satisfaction is Not stated in the document.

      Key Takeaways

      • Clause 354 provides a statutory route for registered non-profits or specified persons to obtain approval relevant to donations u/s 133(1)(b)(ii).
      • Seven express eligibility and compliance conditions cover non-discrimination, charitable purpose, restrictions on asset transfer, accounts, prescribed statements, correction mechanisms and donor certificates.
      • The provision sets distinct application windows, decision timeframes and validity periods (three or five tax years, depending on circumstances) in a five-row Table.
      • Clause (b) contains a strict threshold on "religious-nature" expenditure-"5% or more" of total income-which can render organisations ineligible even if expenditure equals exactly 5%.
      • The Principal Commissioner/Commissioner has inquiry powers and may approve, reject or (where applicable) cancel approvals, but must afford a reasonable opportunity of being heard before rejection.
      • Many operational details (definitions, prescribed forms, calculation rules, content of Schedules, and applicable other laws) are left to prescription or are Not stated in the document.

      Full Text:

      Section 354 Application for approval for purpose of section 133(1)(b)(ii).

      Topics

      ActsIncome Tax