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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Adhiparasakthi Trust Notified Under Section 10(23C)(iv) for Tax Exemption; Must Adhere to Strict Income and Investment Rules.</h1> The Central Government has notified the Adhiparasakthi Charitable, Medical, Educational and Cultural Trust in Melmaruvathur, Tamil Nadu, under clause (23C)(iv) of section 10 of the Income-tax Act, 1961, for the assessment years 2003-2004 to 2005-2006. The trust must apply its income exclusively to its objectives, invest funds as specified in section 11(5), and maintain separate accounts for any incidental business activities. It must also file regular income tax returns and, upon dissolution, transfer surplus assets to a similar charitable organization. This notification excludes income from non-incidental business activities.
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