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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Clause 355 of Income Tax Bill 2025: Key Definitions for Non-Profit Tax Provisions Including 'Anonymous Donation' and 'Substantial Interest'</h1> Clause 355 of the Income Tax Bill, 2025, defines various terms relevant to the legislation. 'Anonymous donation' refers to contributions without recorded donor identities. 'Approval' and 'registration' relate to specific sections of the Income-tax Act, 1961. 'Related person' includes founders, substantial contributors, and their relatives. 'Commercial activity' covers business-related services. 'Specified asset' and 'specified person' pertain to assets and entities under certain tax provisions. 'Substantial interest' involves significant ownership in a company or other concerns. 'Value' denotes benefits provided to related persons. These definitions clarify the application of tax-related provisions for non-profit organizations and other entities.
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