Any income received by any person on behalf of India International Rural Cultural Centre, 7, Nelson Mandela Road, Institutional Area, Sector C-1, Vasant Kunj, New Delhi exempted under Section 10 (23C)(iv) for the Assessment Years 1999-2000 to 2001-07 - 145/2006 - Income Tax Act, 1961
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Exemption for income received on behalf of Rural Cultural Centre subject to conditions on application, investment, business and dissolution. Notification under Section 10(23C)(iv) exempts income received by any person on behalf of the India International Rural Cultural Centre from inclusion in the recipient's total income for the specified assessment years, subject to conditions: exclusive application or limited accumulation of income, permitted modes of investment, exclusion of business income unless incidental with separate books, regular filing of returns, and transfer of surplus on dissolution. The exemption applies only to recipients' receipts on behalf of the Institution; the Institution's own taxability is to be considered separately.
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.
Exemption for income received on behalf of Rural Cultural Centre subject to conditions on application, investment, business and dissolution.
Notification under Section 10(23C)(iv) exempts income received by any person on behalf of the India International Rural Cultural Centre from inclusion in the recipient's total income for the specified assessment years, subject to conditions: exclusive application or limited accumulation of income, permitted modes of investment, exclusion of business income unless incidental with separate books, regular filing of returns, and transfer of surplus on dissolution. The exemption applies only to recipients' receipts on behalf of the Institution; the Institution's own taxability is to be considered separately.
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