Exemption under Section 35AC extended for educational upliftment project for further term; CSR-sourced funds excluded from benefit. The notification designates the 'Upliftment of ST students through quality education' project by Chil Chil Asian Mission Society as an eligible project for income-tax exemption and extends that designation for a further three years without changing the approved project cost, commencing with the financial year 2014-15; no certificate will be issued for the already lapsed first year. The extension follows the National Committee's recommendation that the project is properly executed, and the exemption expressly excludes funds received under Schedule VII of the Companies Act and the Companies (CSR) Rules.
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.
Exemption under Section 35AC extended for educational upliftment project for further term; CSR-sourced funds excluded from benefit.
The notification designates the "Upliftment of ST students through quality education" project by Chil Chil Asian Mission Society as an eligible project for income-tax exemption and extends that designation for a further three years without changing the approved project cost, commencing with the financial year 2014-15; no certificate will be issued for the already lapsed first year. The extension follows the National Committee's recommendation that the project is properly executed, and the exemption expressly excludes funds received under Schedule VII of the Companies Act and the Companies (CSR) Rules.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.