Tax exemption notification for a charitable institution requires exclusive application of income and restricted permitted investments. Designation of Sri Ranganathaswamy Devasthanam as eligible for tax exemption is subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; investments are limited to permitted modes except for certain voluntary contributions held in tangible form; business profits are excluded unless incidental to objectives and kept 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 notification for a charitable institution requires exclusive application of income and restricted permitted investments.
Designation of Sri Ranganathaswamy Devasthanam as eligible for tax exemption is subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; investments are limited to permitted modes except for certain voluntary contributions held in tangible form; business profits are excluded unless incidental to objectives and kept in separate books.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
