Charitable recognition grants tax exemption subject to strict income application, permitted investments, and incidental business conditions. Notification under section 10(23C)(iv) recognises Jhargram Leprosy Project, Calcutta as eligible for tax exemption for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; investments (except certain preserved voluntary contributions) are limited to modes specified in sub section (5) of section 11; and the notification does not apply to business income unless incidental to objectives with separate books maintained.
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.
Charitable recognition grants tax exemption subject to strict income application, permitted investments, and incidental business conditions.
Notification under section 10(23C)(iv) recognises Jhargram Leprosy Project, Calcutta as eligible for tax exemption for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; investments (except certain preserved voluntary contributions) are limited to modes specified in sub section (5) of section 11; and the notification does not apply to business income unless incidental to objectives with separate books maintained.
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