Tax exemption notification: Arpana Trust granted charitable recognition subject to income application, investment and business-accounting conditions. The Central Government notifies Arpana Trust, Karnal, for tax-exempt recognition under sub-clause (v) of clause (23C) of section 10 for specified assessment years, subject to conditions: the trust must apply or accumulate its income wholly and exclusively for its objects; investments (except certain voluntary contributions held as jewellery or furniture) must be only in permitted modes; and business profits are excluded unless the business is incidental and separate books of account are maintained.
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Tax exemption notification: Arpana Trust granted charitable recognition subject to income application, investment and business-accounting conditions.
The Central Government notifies Arpana Trust, Karnal, for tax-exempt recognition under sub-clause (v) of clause (23C) of section 10 for specified assessment years, subject to conditions: the trust must apply or accumulate its income wholly and exclusively for its objects; investments (except certain voluntary contributions held as jewellery or furniture) must be only in permitted modes; and business profits are excluded unless the business is incidental and separate books of account are maintained.
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