Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Income for 'Shree Kavle Math Samsthan' exempt under Section 10(23C)(v) with conditions on use, investment, and compliance.</h1> The Central Government has issued a notification exempting any income received on behalf of 'Shree Kavle Math Samsthan' from being included in the total income of the recipient under Section 10(23C)(v) of the Income-tax Act, 1961. This exemption is subject to conditions including the application of income solely for the institution's objectives, restrictions on fund investments, maintaining separate accounts for business income, regular filing of income tax returns, and auditing of accounts. The notification applies from the assessment year 2005-06 onwards and may be rescinded if the institution's activities are found non-genuine or non-compliant with the conditions.
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