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Guest

Guest (Querist)

18 June 2012 IN FINANCE ACT 2012 NEW Exemption to Prasar Bharati (Broadcasting Corporation of India) AND General Anti-Avoidance Rule (GAAR) CAN ANY ONE TOLD ME ABOUT THIS NEW RULE.WHICH TYPE OF THIS EXPECTION. CAN UNDER THESE SERVICE ASSESSE WILL NOT FILL THEIR RETURN PLEASE CLEAR

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)

18 June 2012 A new clause (23BBH)U/s 10 is incorporated which exempts any income of the Prasar Bharati (Broadcasting Corporation of India) established under sub-section (1) of section 3 of the Prasar Bharati (Broadcasting Corporation of India) Act,
1990 (25 of 1990).
Accoringly, All type of income earned by Prasar Bharti is exempt from income tax.

General Anti-Avoidance Rule has been postponed for 1 year, so you need worry about its applicability for the time being.

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Guest

Guest (Querist)

18 June 2012 thanks sir means gaar will affect from next f.y 2013-2014. and sir they also get deduction as prasar bharti. please sir

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)

19 June 2012 I didnt understand your query.Plz explain it in detail.

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Guest

Guest (Querist)

19 June 2012 i asked you that ,
you told me that accordingly all type income earned by prasar bharti is exempt from income tax. than i want to ask you will in case of
genral anti avoidance rule will same exepection applicable for as applicable for prasar bharti

Guest

Guest (Querist)

20 June 2012 sir now you understand my question about exepection of genral ant avoidance rule

Guest

Guest (Querist)

22 June 2012 you told me that accordingly all type income earned by prasar bharti is exempt from income tax. than i want to ask you. will in case of
genral anti avoidance rule will same exepection applicable for as applicable for prasar bharti

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)

22 June 2012 All type of income of Prasar Bharti is exempt from tax, It has nothing to do with GAAR provisions.
They are totally different and applicable for those who wants to avoid the taxes by improper means.

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