October 2023

Under Section 10(35A) of the Act, any income received by an investor from a securitisation trust is exempt from tax. This provision was introduced to encourage investments in securitisation trusts and to provide a boost to the securitisation market in India. A securitisation trust is a Special Purpose Vehicle (SPV) that acquires and holds financial […]

Section 10(37) of the Income Tax Act, 1961 provides for the exemption of capital gains on compensation received on compulsory acquisition of agricultural land situated within specified urban limits. This exemption is available to both resident and non-resident individuals and Hindu Undivided Families (HUFs). This provision aims to support farmers and landowners who are forced

In India, hosting international sporting events is not only a matter of pride but also has significant financial implications. To encourage the growth of sports in the country, the government has introduced various provisions to provide tax benefits to athletes and organizations involved in organizing such events. One such provision is Section 10(39) of the

Reverse mortgage is a financial scheme that allows senior citizens to convert their home equity into a regular source of income. Under this scheme, a homeowner can mortgage their property to a bank or financial institution and receive a loan against it. The loan amount is paid in installments or as a lump sum, and

Section 10(44) of the Income Tax Act, 1961 provides for exemption from income tax in India in respect of any income received by or on behalf of the New Pension System Trust (NPST), established on 27 February 2008. The New Pension System Trust is a public trust established by the Government of India to manage

Section 10(46) of the Income Tax Act, 1961 provides for exemption from income tax of the specified income arising to a notified body, authority, board, trust, or commission. A notified body, authority, board, trust, or commission is a body, authority, board, trust, or commission that is established or constituted by or under a Central or

Section 10(48) of the Income Tax Act provides an exemption in respect of income received by certain foreign companies. This provision aims to promote foreign investment and encourage the establishment of business operations in India. To be eligible for this exemption, the following conditions must be satisfied: The foreign company must be a resident of

Section 10(48A) of the Income Tax Act provides an exemption in respect of income earned by a foreign company on account of storage of crude oil in a facility in India and the subsequent sale of crude oil from that facility. This provision aims to encourage foreign investment in the oil and gas sector and

Indian Strategic Petroleum Reserves Limited (ISPRL) plays a crucial role in ensuring the energy security of India. It is a special purpose vehicle (SPV) created by the Government of India to store crude oil as a strategic reserve to meet any emergency requirements. To encourage and support the functioning of ISPRL, the Income Tax Act

A Notified Institution refers to any entity or body corporate established by the Central Government or State Government for the purpose of financing infrastructure and development. These institutions play a crucial role in mobilizing funds for infrastructure projects such as roads, railways, airports, power plants, and other essential facilities. The Central Government may notify an