Tax exemption for charitable society conditioned on exclusive application of income, permitted investments, separate business accounts, and non distribution on dissolution. Notification grants tax-exempt status to The Hind Kusht Nivaran Sangh subject to conditions: apply or accumulate income exclusively for its objects; restrict investments to forms permitted under section 11(5) (except certain voluntary contributions retained as jewellery or furniture); treat business income as exempt only if incidental and separately accounted; regularly file income-tax returns; and, on dissolution, transfer surplus and assets to a society with similar objectives instead of distributing them to members.
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 charitable society conditioned on exclusive application of income, permitted investments, separate business accounts, and non distribution on dissolution.
Notification grants tax-exempt status to The Hind Kusht Nivaran Sangh subject to conditions: apply or accumulate income exclusively for its objects; restrict investments to forms permitted under section 11(5) (except certain voluntary contributions retained as jewellery or furniture); treat business income as exempt only if incidental and separately accounted; regularly file income-tax returns; and, on dissolution, transfer surplus and assets to a society with similar objectives instead of distributing them to members.
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