The Central Government notifies the 'Krishna Chandra Memorial Trust, Ganjam, Orissa' for the purpose of clause (23C)(iv) of section 10 of the Income-tax Act, 1961 - 106/2003 - Income Tax Act, 1961
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Tax exemption notification for a charitable trust, subject to exclusive application of income and specified investment and compliance conditions. The Central Government notifies the Krishna Chandra Memorial Trust for clause (23C)(iv) of section 10, subject to conditions: income must be applied or accumulated solely for its objects; investments restricted to modes in sub section (5) of section 11 except certain tangible voluntary contributions; business income excluded unless incidental with separate books; regular income tax return filing required; and on dissolution surplus assets must transfer 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 notification for a charitable trust, subject to exclusive application of income and specified investment and compliance conditions.
The Central Government notifies the Krishna Chandra Memorial Trust for clause (23C)(iv) of section 10, subject to conditions: income must be applied or accumulated solely for its objects; investments restricted to modes in sub section (5) of section 11 except certain tangible voluntary contributions; business income excluded unless incidental with separate books; regular income tax return filing required; and on dissolution surplus assets must transfer to a charitable organisation with similar objectives.
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