Regular income exclusion permits qualifying overseas charitable applications and corpus donations for registered non-profit organisations. Section 338 excludes qualifying income applied outside India and corpus donations from the regular income of a registered non-profit organisation. ... Summary
Regular income exclusion permits qualifying overseas charitable applications and corpus donations for registered non-profit organisations.
Section 338 excludes qualifying income applied outside India and corpus donations from the regular income of a registered non-profit organisation. Overseas application qualifies where the Board directs exclusion and prescribed conditions are met, including the applicable charitable, religious, and international-welfare requirements. Income applied outside India contrary to those conditions is treated as specified income. A corpus donation received under section 339 is excluded at the computation stage rather than included and subsequently deducted.
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