Tax exemption for charitable institution: recognition granted with conditions on use of income, investment modes, business and dissolution. Notification grants Tax exemption to Bhartiya Adim Jati Sewak Sangh, New Delhi for assessment years 2002-2003 to 2004-2005 subject to conditions: apply income wholly and exclusively to its objects; invest or deposit funds only in forms permitted by Section 11(5) (excluding certain voluntary contributions held in tangible forms); exclude business income unless incidental and separately accounted; regularly file income tax returns; and on dissolution transfer surplus and assets to a charitable organisation with similar objectives.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption for charitable institution: recognition granted with conditions on use of income, investment modes, business and dissolution.
Notification grants Tax exemption to Bhartiya Adim Jati Sewak Sangh, New Delhi for assessment years 2002-2003 to 2004-2005 subject to conditions: apply income wholly and exclusively to its objects; invest or deposit funds only in forms permitted by Section 11(5) (excluding certain voluntary contributions held in tangible forms); exclude business income unless incidental and separately accounted; regularly file income tax returns; and on dissolution transfer surplus and assets to a charitable organisation with similar objectives.
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