Tax exemption notification for a charitable trust requires exclusive application of income, restricted investments, and compliance obligations. The Central Government notifies Gandhi Smarak Sangharalaya Samiti as eligible for the exemption under clause (iv) of clause (23C) of section 10 for specified assessment years, subject to conditions: apply or accumulate income wholly and exclusively to its objects; invest or deposit funds only in forms permitted by law (except specified tangible voluntary contributions); exclude business income unless incidental with separate books; regularly file income-tax returns; and on dissolution transfer surplus and assets 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 notification for a charitable trust requires exclusive application of income, restricted investments, and compliance obligations.
The Central Government notifies Gandhi Smarak Sangharalaya Samiti as eligible for the exemption under clause (iv) of clause (23C) of section 10 for specified assessment years, subject to conditions: apply or accumulate income wholly and exclusively to its objects; invest or deposit funds only in forms permitted by law (except specified tangible voluntary contributions); exclude business income unless incidental with separate books; regularly file income-tax returns; and on dissolution transfer surplus and assets to a similar charitable organisation.
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