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No tax relief for Congress, tribunal says no exemption on Rs 199 crore donations

No tax relief for Congress, tribunal says no exemption on Rs 199 crore donations

India Today3 days ago
In a setback to the Congress party, the Income Tax Appellate Tribunal (ITAT) dismissed its appeal against a tax demand for the year 2017-18. The party had opposed the Income Tax Department's notice, which asked it to pay tax on income of over Rs 199 crore.Congress had claimed that the amount came from donations and should be exempt from tax. However, the party failed to file its tax returns by the due date.advertisementThe IT tribunal upheld the decision of the tax authorities, ruling that the party must pay income tax on the donations received during that financial year.
This is a developing story. It will be updated.- Ends
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