Tax exemption for charitable trust recognition requires exclusive application of income and restricted permitted investments. Notification recognises the India Brand Equity Fund Trust for conditional tax-exempt status subject to: exclusive application or accumulation of income for its objects; investment and deposit restrictions limited to forms permitted by law; exclusion of business income unless incidental and separately accounted; regular filing of income-tax returns; and transfer of surplus and assets on dissolution 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 for charitable trust recognition requires exclusive application of income and restricted permitted investments.
Notification recognises the India Brand Equity Fund Trust for conditional tax-exempt status subject to: exclusive application or accumulation of income for its objects; investment and deposit restrictions limited to forms permitted by law; exclusion of business income unless incidental and separately accounted; regular filing of income-tax returns; and transfer of surplus and assets on dissolution to a charitable organisation with similar objectives.
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