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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Clause 90 of Direct Taxes Code Bill 2009: Income Computation Rules for Non-Profits and Welfare Activities Explained.</h1> Clause 90 of the Direct Taxes Code Bill, 2009, outlines the computation of total income for non-profit organizations. It specifies that outgoings include voluntary contributions designated for the organization's corpus, expenditures paid for earning receipts, and costs related to permitted welfare activities. Capital expenditures are included if they relate to incidental business activities or investment assets, excluding financial assets. Payments to similar non-profits and amounts applied internationally for welfare activities, with government notification, are also considered. These provisions ensure that non-profit organizations' financial activities align with their welfare objectives and regulatory requirements.
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