Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Charitable property income exemption: permitted only if applied or properly accumulated under prescribed investment and reporting conditions. Income from property held under trust for charitable or religious purposes is excluded from total income to the extent applied to such purposes in India; limited accumulation or setting apart is permitted if a prescribed statement is furnished to the Assessing Officer and the funds are invested or deposited in specified modes. Misapplication, diversion, breach of corpus conditions, improper credit to certain registered entities, or failure to observe investment and deposit rules causes the amount to be deemed the trust's income for the relevant previous year. 'Property held under trust' includes business undertakings subject to Assessing Officer determination.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Charitable property income exemption: permitted only if applied or properly accumulated under prescribed investment and reporting conditions.
Income from property held under trust for charitable or religious purposes is excluded from total income to the extent applied to such purposes in India; limited accumulation or setting apart is permitted if a prescribed statement is furnished to the Assessing Officer and the funds are invested or deposited in specified modes. Misapplication, diversion, breach of corpus conditions, improper credit to certain registered entities, or failure to observe investment and deposit rules causes the amount to be deemed the trust's income for the relevant previous year. "Property held under trust" includes business undertakings subject to Assessing Officer determination.
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