The benefit of exemption under section 11 cannot be denied to the entire income of the charitable trust but should be restricted only to the extent of income diverted in breach of Section 13 of the Act
| Posted on: September 20, 2022 |
Income Tax Act
Compounding of offences under the Income tax Act, 1961: Revised CBDT Guidelines
In conformity with the Government’s policy of facilitating Ease of Doing Business and decriminalisation of offences, CBDT has taken steps in this direction and issued revised Guidelines for Compounding of offences under the Income-tax Act, 1961(the ‘Act’) dated 16.09.2022 with reference to various offences covered under the prosecution provisions of the Act.
| Posted on: September 18, 2022 |