The Central Government notifies the 'Sri Ramakrishna Ashram, 24 Parganas (South), West Bengal' for the purpose of clause (23C) (iv) of section 10 of the Income-tax Act. 1961 - 139/2003 - Income Tax Act, 1961
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Tax exemption recognition for a charitable ashram subject to exclusive application of income and compliance conditions. Notification grants tax-exempt recognition to Sri Ramakrishna Ashram for specified assessment years subject to conditions: income must be applied or accumulated exclusively for its objects; investments restricted to modes permitted for charitable entities (except certain maintained voluntary contributions); business income excluded unless incidental and separately maintained; regular filing of income-tax returns required; and on dissolution surplus assets must transfer to a charitable body 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 recognition for a charitable ashram subject to exclusive application of income and compliance conditions.
Notification grants tax-exempt recognition to Sri Ramakrishna Ashram for specified assessment years subject to conditions: income must be applied or accumulated exclusively for its objects; investments restricted to modes permitted for charitable entities (except certain maintained voluntary contributions); business income excluded unless incidental and separately maintained; regular filing of income-tax returns required; and on dissolution surplus assets must transfer to a charitable body with similar objectives.
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