9911796707
TMI BlogAmendment of section 10.X X X X Extracts X X X X X X X X Extracts X X X X ..... have been inserted with effect from the 1st day of April, 2008, namely: "(45) any allowance or perquisite, as may be notified by the Central Government in the Official Gazette in this behalf, paid to the Chairman or a retired Chairman or any other member or retired member of the Union Public Service Commission;"; (c) after clause (45) as so inserted, the following shall be inserted with effect fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Central Government may, by notification in the Official Gazette, specify in this behalf; (47) any income of an infrastructure debt fund, set up in accordance with the guidelines as may be prescribed, which is notified by the Central Government in the Official Gazette for the purposes of this clause.'. - Clause 4 of the Bill seeks to amend section 10 of the Income-tax Act relating to incomes no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exempted under the Act. Sub-clause (b) seeks to insert a new clause (45) in the said section so as to provide exemption to any allowance or perquisite, as may be notified by the Central Government in the Official Gazette in this behalf, paid to the Chairman or a retired Chairman or any other member or retired member of the Union Public Service Commission. This amendment will take effect retrospect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngaged in commercial activity and is specified by the Central Government by notification in the Official Gazette in this behalf. The proposed Explanation enables the Central Government to notify the nature and extent of the income of the body or authority or Board or Trust or Commission which shall constitute the specified income. Sub-clause (c) also seeks to insert a new clause (47) in section 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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