Tax exemption notification: charity status granted subject to exclusive application of income and restrictions on investments. Designation of Children Book Trust as eligible under the income-tax charitable exemption is conditional on applying or accumulating income wholly and exclusively for its objects, restricting funds and voluntary contributions to permitted forms and investments for charitable funds, and excluding business profits unless the business is incidental to the objectives 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.
Provisions expressly mentioned in the judgment/order text.
Tax exemption notification: charity status granted subject to exclusive application of income and restrictions on investments.
Designation of Children Book Trust as eligible under the income-tax charitable exemption is conditional on applying or accumulating income wholly and exclusively for its objects, restricting funds and voluntary contributions to permitted forms and investments for charitable funds, and excluding business profits unless the business is incidental to the objectives and maintained in separate books.
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