Income-tax exemption notification for a religious trust conditioned on exclusive application of income, permitted investments, accounting and transfer on dissolution. The Central Government notifies Sree Kadampuzha Bhagavathi Devaswom under the income-tax exemption provision for certain assessment years, subject to conditions: apply income wholly to its objects; invest only in statutory permitted forms except voluntary contributions retained as jewellery or furniture; business income excluded unless incidental and maintained in separate accounts; file returns regularly; and on dissolution transfer surplus and assets 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.
Income-tax exemption notification for a religious trust conditioned on exclusive application of income, permitted investments, accounting and transfer on dissolution.
The Central Government notifies Sree Kadampuzha Bhagavathi Devaswom under the income-tax exemption provision for certain assessment years, subject to conditions: apply income wholly to its objects; invest only in statutory permitted forms except voluntary contributions retained as jewellery or furniture; business income excluded unless incidental and maintained in separate accounts; file returns regularly; and on dissolution transfer surplus and assets to a charitable organisation with similar objectives.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
