Tax exemption approval for educational trust contingent on exclusive application of income and prescribed investment and dissolution rules. Approval is granted to Saraswati Shikshan Samiti for tax-exempt status subject to conditions: apply or accumulate income exclusively for its objects; invest funds only in prescribed modes except certain voluntary contributions; business income excluded unless incidental and shown in separate books; file returns regularly; on dissolution transfer surplus assets to a similar charitable organisation and not to members.
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Tax exemption approval for educational trust contingent on exclusive application of income and prescribed investment and dissolution rules.
Approval is granted to Saraswati Shikshan Samiti for tax-exempt status subject to conditions: apply or accumulate income exclusively for its objects; invest funds only in prescribed modes except certain voluntary contributions; business income excluded unless incidental and shown in separate books; file returns regularly; on dissolution transfer surplus assets to a similar charitable organisation and not to members.
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