Tax exemption under section 10(23C)(vi) granted to a religious institute, subject to application, investment and accounting conditions. Notification grants the Catholic Institute of Carmelite Sisters, Jalandhar income-tax exemption under sub-clause (vi) of clause (23C) of section 10 for specified assessment years, subject to conditions that income be applied or accumulated exclusively for its objects; investments be limited to permitted forms; business income be eligible only if incidental and kept in separate books; regular filing of returns; and on dissolution surplus assets transfer to a like-minded charitable organisation.
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 under section 10(23C)(vi) granted to a religious institute, subject to application, investment and accounting conditions.
Notification grants the Catholic Institute of Carmelite Sisters, Jalandhar income-tax exemption under sub-clause (vi) of clause (23C) of section 10 for specified assessment years, subject to conditions that income be applied or accumulated exclusively for its objects; investments be limited to permitted forms; business income be eligible only if incidental and kept in separate books; regular filing of returns; and on dissolution surplus assets transfer to a like-minded charitable organisation.
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