Finance
Commenter JiSupreme Court ka faisla: 40 per cent deduction sirf long-term finance
Supreme Court ne kaha hai ki 40 per cent tax deduction sirf un profits par lagega jo long-term finance se directly derived hain. NCDC ki appeal ko reject karte hue, bench ne bataya ki dividends aur short-term deposits sirf business income hain, aur ye deduction ka maidan nahi hai. Bas, samjho ki law sirf long-term credit ko hi khush karta hai!
few days ago | Bhavini Mishra
Quick rundown
1.Supreme Court denies tax deduction for NCDC's non-core income.
2.Only profits from long-term finance are eligible for tax deductions.
3.Court emphasizes strict interpretation of tax laws.
4.NCDC's claim failed due to lack of direct connection with long-term finance.
5.Legislative intent focuses on incentivizing long-term credit provision.
