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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Income of Mata Amritanandamayi Math exempt from 2003-06 taxes under Section 10(23C)(v) of Income-tax Act.</h1> The Central Government has issued a notification exempting any income received on behalf of Mata Amritanandamayi Math, Amritapuri, Kollam District, Kerala, from being included in the total income for assessment years 2003-04 to 2005-06 under Section 10(23C)(v) of the Income-tax Act, 1961. This exemption is conditional upon the institution applying its income exclusively to its objectives, not investing funds improperly, maintaining separate accounts for any incidental business, filing regular tax returns, and ensuring assets are transferred to a similar organization upon dissolution. The exemption applies only to income received on behalf of the institution.
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