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Income Tax - Highlights / Catch Notes

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Notification No. 36/2024 grants tax exemption to the National ...

Income Tax

March 28, 2024

Notification No. 36/2024 grants tax exemption to the National Mission for Clean Ganga (NMCG) for specified incomes, including grants-in-aid and interest earned on bank deposits. The exemption is subject to conditions ensuring non-commercial activities, unchanged nature of specified income, and compliance with tax filing requirements. Effective for assessment years 2021-2024.

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