Income exemption for public housing authorities and philanthropic hospitals expanded to include their institutional income. Amendment to the Income-tax Act inserts exemptions into section 10: one clause exempts income of authorities constituted in India for housing accommodation or for planning, development or improvement of cities, towns and villages; another clause exempts income of hospitals or institutions providing reception and treatment or rehabilitation, existing solely for philanthropic purposes and not for profit.
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Provisions expressly mentioned in the judgment/order text.
Income exemption for public housing authorities and philanthropic hospitals expanded to include their institutional income.
Amendment to the Income-tax Act inserts exemptions into section 10: one clause exempts income of authorities constituted in India for housing accommodation or for planning, development or improvement of cities, towns and villages; another clause exempts income of hospitals or institutions providing reception and treatment or rehabilitation, existing solely for philanthropic purposes and not for profit.
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