Tax exemption under section 10(23C)(vi) notifies BHS Higher Education Society, subject to specified compliance and asset transfer conditions. Notification grants tax exemption under section 10(23C)(vi) to BHS Higher Education Society for specified assessment years, subject to conditions: apply or accumulate income exclusively to its objects; limit investments to forms permitted by section 11(5) (except certain voluntary contributions in kind); exclude business income unless incidental with separate books; file regular income tax returns; and on dissolution transfer surplus assets to a charitable organisation with similar objectives.
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) notifies BHS Higher Education Society, subject to specified compliance and asset transfer conditions.
Notification grants tax exemption under section 10(23C)(vi) to BHS Higher Education Society for specified assessment years, subject to conditions: apply or accumulate income exclusively to its objects; limit investments to forms permitted by section 11(5) (except certain voluntary contributions in kind); exclude business income unless incidental with separate books; file regular income tax returns; and on dissolution transfer surplus assets to a charitable organisation with similar objectives.
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