U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On – Gayatri Urban and Rural Development Society, Karnataka - 10/2015 - Income Tax Act, 1961
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Tax exemption extension for eligible social welfare project renewed, but exemption for the lapsed initial year is unavailable. Extension of tax-exempt status is granted to the Gayatri Urban and Rural Development Society's scheme covering evening classes for school-dropout children, self-help group formation, vocational training in jute and handicrafts, vermi-compost training, and a corpus fund; the approved cost and corpus fund remain unchanged and the scheme is specified for a further three-year period commencing with the financial year beginning 2013-14, with the administrative note that no exemption is available for the lapsed first year of that period.
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.
Tax exemption extension for eligible social welfare project renewed, but exemption for the lapsed initial year is unavailable.
Extension of tax-exempt status is granted to the Gayatri Urban and Rural Development Society's scheme covering evening classes for school-dropout children, self-help group formation, vocational training in jute and handicrafts, vermi-compost training, and a corpus fund; the approved cost and corpus fund remain unchanged and the scheme is specified for a further three-year period commencing with the financial year beginning 2013-14, with the administrative note that no exemption is available for the lapsed first year of that period.
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