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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Income of Sri Ramkrishna Ashram Exempted from Tax for 2004-07 under Section 10(23C)(iv), Subject to Conditions</h1> The Central Government has issued a notification exempting any income received on behalf of Sri Ramkrishna Ashram, 24 Parganas (South), West Bengal, from being included in the total income for assessment years 2004-05 to 2006-07 under Section 10(23C)(iv) of the Income Tax Act, 1961. Conditions for this exemption include using the income exclusively for the institution's objectives, not investing funds improperly, maintaining separate accounts for any incidental business, filing regular income returns, and ensuring surplus assets are transferred to a similar organization upon dissolution. This exemption applies only to income received on behalf of the institution.
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