The Central Board of Direct Taxes (CBDT) has notified ‘Competition Commission of India’ for the purposes of the section 10(46) of the Income-tax Act, 1961. Amount received by it in the form of Government grants, fee under the Competition Act, 2002 and interest income earned on these sum received shall be exempt from tax subject to fulfillment of prescribed conditions.The Central Board of Direct Taxes (CBDT) has notified ‘Competition Commission of India’ for the purposes of the section 10(46) of the Income-tax Act, 1961. Amount received by it in the form of Government grants, fee under the Competition Act, 2002 and interest income earned on these sum received shall be exempt from tax subject to fulfillment of prescribed conditions.taxmann.com Latest Statutory HappeningsRead More
