Charitable notification under section 10(23C)(vi) grants tax recognition subject to application, investment and reporting conditions. Notification recognises Mother India Educational Society, Mumbai under section 10(23C)(vi) for assessment years 1999-2000 to 2001-2002, subject to conditions: income must be applied or accumulated solely for its objects; investments and deposits limited to forms permitted by section 11(5) (except specified voluntary contributions); business profits excluded unless incidental with separate accounts; regular filing of returns required; on dissolution surplus and assets must go to a similar charitable organisation; nonconforming deposits and investments must be discontinued after 31 March 2001.
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.
Charitable notification under section 10(23C)(vi) grants tax recognition subject to application, investment and reporting conditions.
Notification recognises Mother India Educational Society, Mumbai under section 10(23C)(vi) for assessment years 1999-2000 to 2001-2002, subject to conditions: income must be applied or accumulated solely for its objects; investments and deposits limited to forms permitted by section 11(5) (except specified voluntary contributions); business profits excluded unless incidental with separate accounts; regular filing of returns required; on dissolution surplus and assets must go to a similar charitable organisation; nonconforming deposits and investments must be discontinued after 31 March 2001.
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 
