Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Taxation of nonprofit income: non-compliance triggers taxation of regular, specified and residual income under the income regime. Where a registered non-profit organisation fails key compliance obligations or conducts prohibited commercial activity, its taxable regular income for ... Summary
Taxation of nonprofit income: non-compliance triggers taxation of regular, specified and residual income under the income regime.
Where a registered non-profit organisation fails key compliance obligations or conducts prohibited commercial activity, its taxable regular income for that tax year-reduced only by expenditure that meets narrowly prescribed conditions-is chargeable to tax; additionally, specified and residual income are taxable to the extent not included in regular income, and the special limitation on taxing non-profit income does not apply.
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