Charitable exemption notification conditions tax relief on exclusive application of income and permitted investment and accounting compliance. Notification grants charitable exemption to Seth Gokal Das Tejpal Charities, Bombay subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; investments and deposits of funds are restricted to permitted forms except voluntary contributions retained as tangible items; and the notification does not cover business income unless the business is incidental to the charity's objectives and is maintained in separate books.
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Charitable exemption notification conditions tax relief on exclusive application of income and permitted investment and accounting compliance.
Notification grants charitable exemption to Seth Gokal Das Tejpal Charities, Bombay subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; investments and deposits of funds are restricted to permitted forms except voluntary contributions retained as tangible items; and the notification does not cover business income unless the business is incidental to the charity's objectives and is maintained in separate books.
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