Notification under section 10(23C)(v) extends tax exemption to a religious charity subject to investment and business conditions. Notification grants coverage under section 10(23C)(v) to Calcutta Zorostrian Community's Religious and Charity Funds subject to conditions: income must be applied or accumulated solely for the fund's objects; investments or deposits are restricted to modes permitted by section 11 (with an exception for voluntary contributions held as jewellery or furniture); and the notification does not apply to business income unless the business is incidental to the objects and separately accounted for.
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.
Notification under section 10(23C)(v) extends tax exemption to a religious charity subject to investment and business conditions.
Notification grants coverage under section 10(23C)(v) to Calcutta Zorostrian Community's Religious and Charity Funds subject to conditions: income must be applied or accumulated solely for the fund's objects; investments or deposits are restricted to modes permitted by section 11 (with an exception for voluntary contributions held as jewellery or furniture); and the notification does not apply to business income unless the business is incidental to the objects and separately accounted for.
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