The Central Government notifies the 'the Indira Gandhi National Centre for the Arts, Janpath, New Delhi ' for the purpose of clause (23C)(iv) of section 10 of the Income-tax Act, 1961 - 061/2005 - Income Tax Act, 1961
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Tax exemption recognition for cultural institution subject to conditions on income use, investment, business activity, filing, and dissolution. Notification designates the Indira Gandhi National Centre for the Arts for clause (23C)(iv) of section 10 for assessment years 2004-2005 to 2006-2007, subject to conditions: exclusive application or accumulation of income for institutional objects; permitted modes of investment akin to charitable bodies; business income only if incidental with separate accounts; regular filing of income-tax returns; and transfer of surplus assets on dissolution to a similar charitable organisation.
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 recognition for cultural institution subject to conditions on income use, investment, business activity, filing, and dissolution.
Notification designates the Indira Gandhi National Centre for the Arts for clause (23C)(iv) of section 10 for assessment years 2004-2005 to 2006-2007, subject to conditions: exclusive application or accumulation of income for institutional objects; permitted modes of investment akin to charitable bodies; business income only if incidental with separate accounts; regular filing of income-tax returns; and transfer of surplus assets on dissolution to a similar charitable organisation.
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