Tax exemption for notified charitable organisation requires exclusive application of income and compliance with investment and accounting conditions. Notification under section 10(23C)(iv) notifies the Indian Trade Promotion Organisation as eligible for the sub-clause for specified assessment years provided it applies or accumulates income wholly and exclusively for its objects; limits investments to the forms specified in section 11(5) (excluding certain retained voluntary contributions); excludes business income unless incidental and kept in separate books; and requires regular filing of income-tax returns.
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 for notified charitable organisation requires exclusive application of income and compliance with investment and accounting conditions.
Notification under section 10(23C)(iv) notifies the Indian Trade Promotion Organisation as eligible for the sub-clause for specified assessment years provided it applies or accumulates income wholly and exclusively for its objects; limits investments to the forms specified in section 11(5) (excluding certain retained voluntary contributions); excludes business income unless incidental and kept in separate books; and requires regular filing of income-tax returns.
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