Tax Exemption

‘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… 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… Read More »