TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Income-tax Act: Section 23A Updated; New Clause Added for Charitable Institutions' Share Capital Requirements</h1> In the Finance Act, 1961, an amendment is made to section 23A of the Income-tax Act. In sub-section (1), clause (ii) is modified by adding the word 'or' at the end. A new clause (iii) is inserted, effective from April 1, 1960, stipulating that a company must have at least 75% of its share capital beneficially held throughout the previous year by an institution or fund established in the taxable territories for charitable purposes, with its income exempt under section 4(3)(i).
TaxTMI 
TaxTMI 
