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Income-tax (13th Amendment) Rules, 2014 - Percentage of Government Grant for considering university, hospital etc. as substantially financed by the Government for the purposes of Section 10(23C) - 79/2014 - Income Tax Act, 1961
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Substantial government financing test: government grant must constitute a majority of institutional receipts to qualify under clause 23C. A new rule states that a university, educational institution, hospital or similar institution is considered substantially financed by the Government for any previous year if the Government grant to that institution exceeds fifty percent of its total receipts for the relevant previous year, with total receipts including any voluntary contributions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Substantial government financing test: government grant must constitute a majority of institutional receipts to qualify under clause 23C.
A new rule states that a university, educational institution, hospital or similar institution is considered substantially financed by the Government for any previous year if the Government grant to that institution exceeds fifty percent of its total receipts for the relevant previous year, with total receipts including any voluntary contributions.
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