Tax exemption for specified income confirms grants and interest are exempt for a rural livelihood society, subject to compliance. Notification under Section 10(46) declares Karnataka State Rural Livelihood Promotion Society exempt in respect of specified income: grants from the Central Government, grants from the State Government of Karnataka, and interest on bank deposits, subject to conditions prohibiting commercial activity, maintaining unchanged activities and income nature, and filing returns as required by clause (g) of sub-section (4C) of section 139.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption for specified income confirms grants and interest are exempt for a rural livelihood society, subject to compliance.
Notification under Section 10(46) declares Karnataka State Rural Livelihood Promotion Society exempt in respect of specified income: grants from the Central Government, grants from the State Government of Karnataka, and interest on bank deposits, subject to conditions prohibiting commercial activity, maintaining unchanged activities and income nature, and filing returns as required by clause (g) of sub-section (4C) of section 139.
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