Any income received by any person on behalf of Institute of Marketing & Management, New Delhi exempted under Section 10 (23C)(iv) - 072/2006 - Income Tax Act, 1961
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Tax exemption for income received on behalf of educational institution excludes such income from donor's taxable income subject to conditions. Notification exempts from inclusion in the recipient's total income any amounts received by any person on behalf of the Institute of Marketing & Management, New Delhi for specified assessment years, subject to conditions: income must be applied or properly accumulated for institutional objects with limits on accumulation; investments confined to permitted forms under section 11(5); business income excluded unless incidental with separate books; regular filing of returns required; and surplus on dissolution to transfer to like-minded organisations.
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 for income received on behalf of educational institution excludes such income from donor's taxable income subject to conditions.
Notification exempts from inclusion in the recipient's total income any amounts received by any person on behalf of the Institute of Marketing & Management, New Delhi for specified assessment years, subject to conditions: income must be applied or properly accumulated for institutional objects with limits on accumulation; investments confined to permitted forms under section 11(5); business income excluded unless incidental with separate books; regular filing of returns required; and surplus on dissolution to transfer to like-minded organisations.
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