Tag Archives: Section 50

List of Organisation not treated as foreign source under Foreign Contribution (Regulation) Act 2010

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF HOME AFFAIRS ORDER New Delhi, the 17th October, 2016 S.O. 3210(E).–In exercise of the powers conferred by section 50 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010), the Central Government hereby notifies that the international organisations specified below shall not be treated… Read More »

Deemed short term capital gain from Sale of depreciable assets allowed to be set off against brought forward long term capital losses and unabsorbed depreciation

Issue Assessee had for the subject assessment year inter alia disclosed an amount of Rs.7.12 Crores as deemed short term capital gain under Section 50 of the Act. This deemed short term capital gain arose on account of the sale of depreciable assets. This deemed short term capital gain was set off against brought forward… Read More »