The Central Government notifies the 'Wild Life Association of South India, Victoria Road, Bangalore' for the purpose of clause (23C)(iv) of section 10 of the Income-tax Act, 1961 - 110/2003 - Income Tax Act, 1961
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Tax exemption notification requires exclusive application of income, prescribed investments, compliance and asset transfer on dissolution. Notification grants tax-exempt status to the Wild Life Association of South India for assessment years 1998-1999 to 2000-2001 subject to conditions: apply or accumulate income wholly and exclusively for its objects; invest or deposit funds only in modes specified in sub-section (5) of section 11 (excluding certain voluntary contributions kept as jewellery or furniture); exclude business profits unless incidental and maintained in separate books; regularly file income-tax returns; and on dissolution transfer surplus and assets 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 requires exclusive application of income, prescribed investments, compliance and asset transfer on dissolution.
Notification grants tax-exempt status to the Wild Life Association of South India for assessment years 1998-1999 to 2000-2001 subject to conditions: apply or accumulate income wholly and exclusively for its objects; invest or deposit funds only in modes specified in sub-section (5) of section 11 (excluding certain voluntary contributions kept as jewellery or furniture); exclude business profits unless incidental and maintained in separate books; regularly file income-tax returns; and on dissolution transfer surplus and assets to a charitable organisation with similar objectives.
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