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Income Tax - Highlights / Catch Notes

Home Highlights September 2020 Year 2020 This

Exemption u/s 11 and 12 - Amount deployed towards share capital ...

Income Tax

September 19, 2020

Exemption u/s 11 and 12 - Amount deployed towards share capital of BARC pursuant to the policy of the Central Government and TRAI recommendations - BARC, being a not for profit Company under section 25 of the Companies act, 1956, is not permitted to distribute any dividends or profits to its shareholders - Benefit of exemption cannot be denied - AT

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