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Income Tax - Highlights / Catch Notes

Home Highlights December 2016 Year 2016 This

Income of the Society cannot be anything beyond the scope of ...


Society's Income Excludes Transfers to 'Distribution Pool Fund Account' per Chapter XVI Bye-laws.

December 5, 2016

Case Laws     Income Tax     HC

Income of the Society cannot be anything beyond the scope of Chapter XVI of the Bye – laws. Therefore, logically the amount transferred to the ‘Distribution Pool Fund Account’ cannot be brought within the umbrella of Chapter XVI. - HC

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