Definitions of certain relevant computations

"Enterprise" refers to a person or a department of the government who is or has ever engaged in any activity related to the production, storage, supply, distribution, acquisition or control of any kind of goods or services, or in the business of investing in, buying, selling, holding, or otherwise transacting in shares, debentures, or other securities of any other legal entity, either directly or through one or more of its units, no government activity related to the sovereign functions of the government, including all activities carried out by the Central Government departments dealing with atomic energy, currency, defence, and space, is included, whether such unit, division, or subsidiary is located at the same location where the enterprise is located, at a different place, or at different places.

A price that is applied or intended to be used in a transaction between parties that are not related companies, under uncontrolled circumstances, is referred to as a "arm's length price." A constant place wherein a corporation conducts all or a part of its activity is known as a "everlasting establishment" beneath a selected phrase. The definition of "specified date" should be the same as that of "due date" in any other sub-section.

Article on tax exemption.

"Transaction" refers to a deal, understanding, or coordinated action, whether or not the agreement, understanding, or action is official, in writing, or whether or not it is meant to be enforced by a legal process. Any amount contributed to a recognised provident fund or an authorised superannuation fund by the assessee as an employer, subject to any restrictions that may be required for the purposes of recognising the provident fund or approving the superannuation fund, as the case may be, and in instances where the donations are not in the nature of annual payments of fixed amounts or annual donations fixed on some specific basis by reference to the income chargeable under the head "Salaries," to the contributions, or to the contributions or to the number of members of the fund, subject to such conditions as the Board may think fit to specify.

This clause allows for the deduction of money contributed to a recognised provident fund or an authorised superannuation fund by the taxpayer as an employer. The maximum amounts that the sums may be paid must not exceed those that may be specified in order to recognise the provident fund or approve the superannuation fund. There is no distinction between yearly contribution and initial contribution in the subsection's opening mention to contribution.

Some guidelines must specify the parameters under which the donation may be made. The word "prescribed" is defined in a section to mean "prescribed by the rules adopted under the Act."

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