Tax exemption for charitable funds: Calcutta Zoroastrian community fund notified subject to exclusivity, investment and business conditions. Notification under sub-clause (iv) of clause (23C) of section 10 notifies Calcutta Zoroastrian Community's Religious and Charity Funds for assessment years 1990-91 to 1992-93 subject to conditions: apply or accumulate income wholly and exclusively to objects; invest or deposit funds only in modes permitted for charitable trusts (except voluntary contributions in jewellery, furniture, etc.); and exclude business profits unless business is incidental and separately accounted.
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Tax exemption for charitable funds: Calcutta Zoroastrian community fund notified subject to exclusivity, investment and business conditions.
Notification under sub-clause (iv) of clause (23C) of section 10 notifies Calcutta Zoroastrian Community's Religious and Charity Funds for assessment years 1990-91 to 1992-93 subject to conditions: apply or accumulate income wholly and exclusively to objects; invest or deposit funds only in modes permitted for charitable trusts (except voluntary contributions in jewellery, furniture, etc.); and exclude business profits unless business is incidental and separately accounted.
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