Tax exemption recognition for religious trust subject to exclusive income application, permitted investments, separate accounting and dissolution transfer rules. Notification under section 10(23C) recognises Sree Kadampuzha Bhagavathi Devaswom for specified assessment years subject to conditions: income must be applied or accumulated exclusively for its objects; investments limited to forms permitted by Section 11(5) except specified voluntary contributions; business income excluded unless incidental and maintained in separate books; regular filing of income-tax returns required; and on dissolution surplus and assets must be transferred to a charitable organisation with similar objectives.
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 religious trust subject to exclusive income application, permitted investments, separate accounting and dissolution transfer rules.
Notification under section 10(23C) recognises Sree Kadampuzha Bhagavathi Devaswom for specified assessment years subject to conditions: income must be applied or accumulated exclusively for its objects; investments limited to forms permitted by Section 11(5) except specified voluntary contributions; business income excluded unless incidental and maintained in separate books; regular filing of income-tax returns required; and on dissolution surplus and assets must be transferred to a charitable organisation with similar objectives.
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