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Section – 139 - Mandatory furnishing of return by certain exempt entities -

 

The existing provision of section 139(4C) mandates filing of return by certain tax exempt entities. In order to verify that the entities enjoying exemptions under section 10 are actually carrying out the activities for which exemption has been provided, the amendment seeks to provide that any person enjoying exemption under section 10(23AAA), Investor Protection Fund referred to in section 10(23EC) or (23ED), Core Settlement Guarantee Fund referred to in section 10(23EE) and any Board or Authority referred to in section 10 (29A) shall also be mandatorily required to furnish the return.

 

The amendment will take effect from 1st April 2018 relevant to assessment year 2018-19


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