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The Central Government notifies the 'Wrestling Federation of India, New Delhi ' for the purpose of clause (23) of section 10 of the Income-tax Act. 1961 - 006/2007 - Income Tax Act, 1961
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Tax-exempt status for charitable association conditioned on exclusive application of income, permitted investments, and separate accounting for incidental business. Notification grants tax-exempt status to the Wrestling Federation of India subject to conditions: exclusive application or accumulation of income to its objects; permitted forms of investment for funds; exclusion of business income unless incidental and maintained in separate books; regular filing of income-tax returns; and transfer of surplus and assets to a like-minded charitable organisation on dissolution.
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-exempt status for charitable association conditioned on exclusive application of income, permitted investments, and separate accounting for incidental business.
Notification grants tax-exempt status to the Wrestling Federation of India subject to conditions: exclusive application or accumulation of income to its objects; permitted forms of investment for funds; exclusion of business income unless incidental and maintained in separate books; regular filing of income-tax returns; and transfer of surplus and assets to a like-minded charitable organisation on dissolution.
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