Tax Exemption Archives - theleagle.in

‘Simple and Non-Controversial’: Section 13A, IT Act, 1961

April 1, 2024April 1, 2024

Section 13A was introduced in the IT Act, 1961 via the Taxation Laws (Amendment) Act, 1978 (‘1978 Act’) to grant income tax exemption to political parties. The then Minister of Finance, Shri H.M. Patel, introduced Taxation Laws (Amendment) Bill, 1978 in the Lok Sabha and remarked that it was ‘a… Read More »

Budgetary Support Scheme: High Court Interprets Eligibility Criteria Strictly

June 11, 2023August 1, 2023

Budgetary Support Scheme (‘BSS’) was introduced by the Union of India (‘Union’) for taxpayers to smoothen their transition to GST. Taxpayers who received concessions or exemptions under the pre-GST indirect tax regime would cease to receive the said concessions or exemptions due to subsumption of various indirect levies by GST.… Read More »