Income tax exemption notification conditions for a charitable institution, requiring exclusive application of income and restricted investments. Notification under section 10(23C)(v) notifies Basava Samithi for income-tax exemption for specified assessment years, conditional on applying or accumulating income exclusively to its objects, restricting investments to permitted forms (with an exception for certain voluntary contributions held as movable property), and excluding business profits unless the business is incidental and accounted for 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.
Income tax exemption notification conditions for a charitable institution, requiring exclusive application of income and restricted investments.
Notification under section 10(23C)(v) notifies Basava Samithi for income-tax exemption for specified assessment years, conditional on applying or accumulating income exclusively to its objects, restricting investments to permitted forms (with an exception for certain voluntary contributions held as movable property), and excluding business profits unless the business is incidental and accounted for 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 
