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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Sri Ramakrishna Ashram Gains Income Tax Exemption Under Section 10(23C)(iv) for 2001-2004, Must Follow Specific Conditions.</h1> The Central Government has notified 'Sri Ramakrishna Ashram, 24 Parganas (South), West Bengal' under clause (23C)(iv) of section 10 of the Income-tax Act, 1961, applicable for assessment years 2001-2002 to 2003-2004. The notification stipulates that the Ashram must apply its income exclusively to its established objectives, invest funds as specified in section 11(5), and maintain separate accounts for any business activities incidental to its objectives. It also requires regular income tax filings and mandates that, upon dissolution, any surplus assets be transferred to a similar charitable organization.
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