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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>'Foundation Aga Khan, New Delhi' Notified Under Section 10(23C)(iv) of Income-tax Act for Specific Assessment Years</h1> The Central Government has notified the 'Foundation Aga Khan, New Delhi' under Section 10(23C)(iv) of the Income-tax Act, 1961, for the assessment years 2005-2006 to 2007-2008. The notification specifies that the foundation must use its income solely for its established objectives, invest funds only in approved forms, and maintain separate accounts for any business activities incidental to its objectives. It must also file regular income tax returns. In case of dissolution, any surplus and assets must be transferred to a charitable organization with similar objectives.
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