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Archive: 03 January 2025

Posts in 03 January 2025

Interest from investment with co-operative society engaged in banking business deductible u/s. 80P(2)(d)

January 3, 2025 1017 Views 0 comment Print

ITAT Ahmedabad held that the interest earned on the investment made with the Coopearitve Society which was carried out the banking business is eligible for deduction under section 80P(2)(d) of the Income Tax Act.

Income Tax Section 10(46) exemption: Karnataka Horticulture Agency

January 3, 2025 885 Views 0 comment Print

Income tax exemption for Karnataka State Horticulture Development Agency on grants, horticulture revenue, and interest. Applicable for FY 2020-2021 to 2023-2024.

Income Tax Section 10(46) exemption – Rabindra Setu Commissioners

January 3, 2025 972 Views 0 comment Print

Income Tax exemption notification for Rabindra Setu, Kolkata, detailing income categories, conditions, and retrospective effect for assessment years 2019-2020 to 2023-2024.

March 30, 2025: Govt Transactions via e-Kuber

January 3, 2025 1962 Views 0 comment Print

RBI directs e-Kuber to process government transactions on March 30, 2025, ensuring accurate financial year-end accounting despite the date falling on a Sunday.

EPF Act Not Applicable to Govt Employees with Superior Benefits: MP HC

January 3, 2025 1869 Views 0 comment Print

Madhya Pradesh High Court ruled on EPF Act applicability to employees of aided schools, emphasizing compliance with central laws over state-specific rules.

Exercising Joint Option Under EPF Scheme Precedes Higher Pension Option Under EPS 1995

January 3, 2025 2331 Views 1 comment Print

Patna HC rules on joint option under EPF and Pension Scheme for higher pensions, citing Supreme Court precedents, impacting retirees from Bihar State Food Corporation.

HRA & Conveyance Allowances Excluded from Provident Fund Contributions: Madras HC

January 3, 2025 2478 Views 0 comment Print

Madras High Court ruling on A. K. Ahamed & Co. Vs EPFO remands case for fresh adjudication, emphasizing that HRA and conveyance allowances are excluded from PF contributions.

IPC Provisions Apply if Provident Fund Deductions Aren’t Deposited: Karnataka HC

January 3, 2025 1194 Views 0 comment Print

Karnataka High Court quashes criminal proceedings against trustees for alleged provident fund violations, clarifying IPC provisions on employer liabilities.

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