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CS Professional · Advanced Direct Tax Laws and Practice · Double Taxation Avoidance Agreement (DTAA)

Under section 159 of the Income-tax Act, 2025, which description of a 'specified association' is correct?

A specified association is any institution, association or body, whether incorporated or not, functioning under Indian law or the laws of the specified territory, and notified as such by the Central Government. Incorporation is not required, and the notification must come from the Central Government.

  1. AOnly a body incorporated under the Companies Act, 2013 and notified by any State Government
  2. BAny institution, association or body, incorporated or not, functioning under Indian law or the laws of the specified territory, and notified by the Central GovernmentCorrect
  3. CAny foreign government department recognised by the OECD
  4. DAny registered trade union whether or not notified

Explanation

Section 159(9)(a) defines specified associations as any institution, association or body, whether incorporated or not, functioning under law in force in India or the laws of the specified territory, and notified by the Central Government. Incorporation is not required, and notification is by the Central Government, not a State.

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