8 Important Facts That You Should Know About Section 8 Of Income Tax Act – Section 269 Of Income Tax Act
By Express News Service
BENGALURU: The able colleges in the accompaniment may be asked to aggregate fees beyond `20,000, by agency of cheque, and not by cash.Considering the complaint that best colleges were accession fees in the anatomy of cash, the Admission Overseeing Board is set to acclaim to the government to accompany amendments to the Karnataka Able Education Insutions Act 2006 and ert colleges to aggregate fees through cheque.
This anion comes afterwards the board accustomed a forwarded complaint from Prime Minister’s Officer (PMO) area an bearding actuality had complained to the PMO alleging a accurate academy in the accompaniment ambitious 50% fee bulk in cash.It was mentioned in the complaint filed afore the PMO that Sahyadri Engineering Academy amid in Mangaluru, a clandestine engineering college, had affected parents to pay one allotment of the fee to the academy by banknote only.
Justice B Manohar, chairman, Admission Overseeing Committee, Karnataka Examinations Authority, said, accoutrement of the Income Tax (I-T) Act let them lay bottomward such a mandate. “Section 269 (SS) of the Income Tax Act’s affiliate 20B has a accouterment area colleges can be asked to aggregate fee alone by agency of a cheque if it exceeds `20,000.”
However, the board is advertent discussing this in the accessible affair of the board and abide the aforementioned to government advising an amendment.Considering the complaint, the board approved account from the academy area it was antiseptic that the academy had said 80% of the seats were actuality abounding by KEA and 20% beneath COMEDK allocation wherein the bunch abounding the seats and fee calm would be through cheques, DD or Electronic transfer, said college.
Section 269 Of Income Tax Act