Notifies The Congregation of the Franciscan Sisters of the Presentation of the Blessed Virgin Mary, Coimbatore u/s 10(23C)(v) - S.O.2060 - Income Tax Act, 1961
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Tax exemption recognition under section 10(23C)(v) granted subject to charitable application, investment limits and business income conditions. Notification grants the Congregation tax-exempt recognition under section 10(23C)(v) for the relevant assessment years on conditions that income be applied wholly and exclusively to its objects, that funds (other than certain voluntary contributions kept in tangible form) be invested only in permitted forms and modes applicable to charitable entities, and that any business income be excluded from the notification unless incidental to objectives and accounted for in separate books.
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 recognition under section 10(23C)(v) granted subject to charitable application, investment limits and business income conditions.
Notification grants the Congregation tax-exempt recognition under section 10(23C)(v) for the relevant assessment years on conditions that income be applied wholly and exclusively to its objects, that funds (other than certain voluntary contributions kept in tangible form) be invested only in permitted forms and modes applicable to charitable entities, and that any business income be excluded from the notification unless incidental to objectives and accounted for in separate books.
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