Tax exemption recognition for an educational trust grants conditional charitable status subject to application, investment and accounting conditions. Notification grants charitable exemption to Vignan Educational Foundation, Bangalore for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; investments and deposits must be limited to forms permitted for charitable trusts; business income is exempt only if incidental and maintained in separate books; returns must be regularly filed; and on dissolution surplus and assets must transfer to a similar 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 recognition for an educational trust grants conditional charitable status subject to application, investment and accounting conditions.
Notification grants charitable exemption to Vignan Educational Foundation, Bangalore for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; investments and deposits must be limited to forms permitted for charitable trusts; business income is exempt only if incidental and maintained in separate books; returns must be regularly filed; and on dissolution surplus and assets must transfer to a similar charitable organisation.
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