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Filing requirement for exempt institutions and investment funds: specified entities must file returns when income exceeds the non-taxable threshold. The amendment requires specified universities, hospitals and other institutions to file returns if their total income without applying tax-exempt status exceeds the non-taxable threshold, and adds a provision obliging investment funds in the designated category to furnish annual returns of income or loss and be treated as returns required under the principal filing sub-section.
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Provisions expressly mentioned in the judgment/order text.
Filing requirement for exempt institutions and investment funds: specified entities must file returns when income exceeds the non-taxable threshold.
The amendment requires specified universities, hospitals and other institutions to file returns if their total income without applying tax-exempt status exceeds the non-taxable threshold, and adds a provision obliging investment funds in the designated category to furnish annual returns of income or loss and be treated as returns required under the principal filing sub-section.
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