Notifies the Institute of the Franciscan Missionaries of Mary, Society No. 14, Tamil Nadu (Ootacamund) u/s 10(23C)(v) - S.O.3432 - Income Tax Act, 1961
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Tax exemption under 10(23C)(v) notified for institute, subject to exclusive application, permitted investments, and business conditions. Notification designates the Institute of the Franciscan Missionaries of Mary as eligible under 10(23C)(v) for specified assessment years subject to conditions requiring exclusive application or accumulation of income for its objects, investment of funds only in permitted forms (except certain voluntary contributions held as movable assets), and exclusion of business profits unless incidental and maintained 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.
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Tax exemption under 10(23C)(v) notified for institute, subject to exclusive application, permitted investments, and business conditions.
Notification designates the Institute of the Franciscan Missionaries of Mary as eligible under 10(23C)(v) for specified assessment years subject to conditions requiring exclusive application or accumulation of income for its objects, investment of funds only in permitted forms (except certain voluntary contributions held as movable assets), and exclusion of business profits unless incidental and maintained in separate books.
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