Muncipal corporation

tabrej (assistant) (83 Points)

24 August 2016

rent received by the muncipal corporation is taxable income in the hands of muncipal corporations?

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178099 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.) (178099 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

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