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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Income Tax Bill 2025: Clause 353 targets non-compliant non-profits with tax on income and extra taxes for specific earnings.</h1> Clause 353 of the Income Tax Bill, 2025, outlines tax implications for registered non-profit organizations failing to comply with specific financial and operational requirements. These include maintaining and auditing books of account, furnishing income returns, and avoiding unauthorized commercial activities. Non-compliance results in the organization's regular income, minus certain expenditures, being taxable. Additional taxes apply to specified and residual incomes not covered under regular taxable income. Allowable expenditures must meet several conditions, such as being incurred in India and not derived from loans or donations, with specific exclusions for capital expenditures and certain payments.
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