Interest income to be excluded from gross receipts for exemption u/s 10(23C)(iiiab)
July 4, 2025
Income Tax, ITAT
Interest income to be excluded from gross receipts while computing percentage of Govt. finance for determining the exemption u/s 10(23C)(iiiab). In a recent judgment, ITAT Ranchi has held that interest income is not to be included in gross receipts of the society while computing 50% of Govt. financing …