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Regular income classification clarifies taxable streams for registered non-profit organisations, including charitable receipts, investments, contributions and commercial gains. Regular income of a registered non-profit organisation comprises income from the charitable or religious activities for which it is registered; income (excluding specified commercial gains) from property, deposits or investments held wholly or partly for charitable or religious purposes; voluntary contributions received; and gains from permissible commercial activity carried out by the organisation, with such commercial gains computed in the prescribed manner.
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Provisions expressly mentioned in the judgment/order text.
Regular income classification clarifies taxable streams for registered non-profit organisations, including charitable receipts, investments, contributions and commercial gains.
Regular income of a registered non-profit organisation comprises income from the charitable or religious activities for which it is registered; income (excluding specified commercial gains) from property, deposits or investments held wholly or partly for charitable or religious purposes; voluntary contributions received; and gains from permissible commercial activity carried out by the organisation, with such commercial gains computed in the prescribed manner.
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