Section 10(23C) tax notification grants exemption to People's Action for Development subject to application and investment conditions. Notification under section 10(23C)(iv) notifies People's Action for Development, Mumbai as eligible for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; funds (except certain voluntary contributions) may be invested only in modes specified in section 11(5); and the notification excludes profits and gains of business unless the business is incidental to the objectives and separate books are 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.
Section 10(23C) tax notification grants exemption to People's Action for Development subject to application and investment conditions.
Notification under section 10(23C)(iv) notifies People's Action for Development, Mumbai as eligible for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; funds (except certain voluntary contributions) may be invested only in modes specified in section 11(5); and the notification excludes profits and gains of business unless the business is incidental to the objectives and separate books are maintained.
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