rent received by the muncipal corporation is taxable income in the hands of muncipal corporations?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160886 Points)
Replied 24 August 2016
No income tax liability on Municipal/Government bodies.
tabrej
(assistant)
(83 Points)
Replied 30 August 2016
sir would u please quote under which provission there is no tax liability? thanking you
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160886 Points)
Replied 01 September 2016
You may refer section 10(46) of IT act. 1961 for more details
tabrej
(assistant)
(83 Points)
Replied 02 September 2016
Thank you very much for the information sir
CAclubindia
