Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
The CBDT has issued a circular which addresses conditions under which income from specific funds, trusts, institutions, universities, educational, or medical institutions can enjoy tax exemption under the Income-tax Act, 1961. It outlines that at least 85% of such entities' income must be used for charitable or religious purposes, directly or through donations to similar entities. Amendments by the Finance Act 2023 clarify that only 85% of eligible donations are considered for charitable or religious application, with the balance 15% not needing to be invested per section 11(5) for exemption eligibility.
The CBDT has issued a circular which addresses conditions under which income from specific funds, trusts, institutions, universities, educational, or medical institutions can enjoy tax exemption under the Income-tax Act, 1961. It outlines that at least 85% of such entities' income must be used for charitable or religious purposes, directly or through donations to similar entities. Amendments by the Finance Act 2023 clarify that only 85% of eligible donations are considered for charitable or religious application, with the balance 15% not needing to be invested per section 11(5) for exemption eligibility.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
