Section 10(23C)(iv) exemption: agency notified for tax-exempt status subject to application, investment and return filing conditions. Central Government notifies the State Innovation in Family Planning Services Project Agency, Lucknow, under section 10(23C)(iv) subject to conditions: apply or accumulate income wholly and exclusively to objects; invest funds only in modes permitted for trusts (excluding certain voluntary contributions held as moveables); notification excludes business income unless incidental and accounted in separate books; and the assessee must regularly file returns under the Income-tax Act.
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Provisions expressly mentioned in the judgment/order text.
Section 10(23C)(iv) exemption: agency notified for tax-exempt status subject to application, investment and return filing conditions.
Central Government notifies the State Innovation in Family Planning Services Project Agency, Lucknow, under section 10(23C)(iv) subject to conditions: apply or accumulate income wholly and exclusively to objects; invest funds only in modes permitted for trusts (excluding certain voluntary contributions held as moveables); notification excludes business income unless incidental and accounted in separate books; and the assessee must regularly file returns under the Income-tax Act.
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