Tax exemption notification under section 10(23C)(iv) grants recognition subject to compliance, reporting and asset transfer conditions on dissolution. Notification grants recognition under section 10(23C)(iv) for the assessment years 1999-2000 to 2001-02 provided the entity applies or accumulates income exclusively for its objects; restricts investments and deposits to forms permitted in section 11(5) (excluding certain voluntary contributions held in kind); treats business income as incidental only if separate books are maintained; files income-tax returns regularly; and on dissolution transfers surplus and assets to a charitable organization 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 notification under section 10(23C)(iv) grants recognition subject to compliance, reporting and asset transfer conditions on dissolution.
Notification grants recognition under section 10(23C)(iv) for the assessment years 1999-2000 to 2001-02 provided the entity applies or accumulates income exclusively for its objects; restricts investments and deposits to forms permitted in section 11(5) (excluding certain voluntary contributions held in kind); treats business income as incidental only if separate books are maintained; files income-tax returns regularly; and on dissolution transfers surplus and assets to a charitable organization with similar objectives.
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