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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Bharat Sevashram Sangha Recognized Under Section 10(23C)(iv) for Tax Exemption; Must Adhere to Specific Conditions</h1> The Central Government has notified Bharat Sevashram Sangha, Kolkata under Section 10(23C)(iv) of the Income-tax Act, 1961 for the assessment years 2005-06 to 2007-08. The notification stipulates that the organization must apply its income exclusively for its established objectives and invest funds only in specified modes. It excludes profits from business unless incidental to the organization's objectives with separate accounting. The organization is required to file regular income tax returns and, upon dissolution, must transfer any surplus and assets to a similar charitable organization.
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