Section 115TE of ITA, 1961 : Section 115Te: Interest Payable For Non-Payment Of Tax By Trust Or Institution
ITA, 1961
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Explanation using Example
Imagine a charitable trust that has lost its tax-exempt status due to non-compliance with certain conditions required by the Income-tax Act. According to Section 115TD, the trust is now required to pay tax on its accreted income (which is essentially the income that is not spent towards charitable purposes and is now subject to tax). The deadline for paying this tax is specified by the Ac...
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