The Central Government notifies the 'Sree Padmanabhaswamy Temple Trust, Trivandrum' for the purpose of clause (23C) (v) of section 10 of the Income-tax Act, 1961 - 311/2003 - Income Tax Act, 1961
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Charitable trust recognition: Sree Padmanabhaswamy Temple Trust granted tax-exempt status subject to conditions on income, investments, business and dissolution. Trust recognition is granted conditionally: income must be applied or accumulated solely for trust objects; investments limited to permitted modes except specified voluntary contributions; business income excluded unless incidental and separately accounted; regular filing of returns is required; on dissolution surplus and assets must transfer to a charitable organisation with similar objectives.
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Provisions expressly mentioned in the judgment/order text.
Charitable trust recognition: Sree Padmanabhaswamy Temple Trust granted tax-exempt status subject to conditions on income, investments, business and dissolution.
Trust recognition is granted conditionally: income must be applied or accumulated solely for trust objects; investments limited to permitted modes except specified voluntary contributions; business income excluded unless incidental and separately accounted; regular filing of returns is required; on dissolution surplus and assets must transfer to a charitable organisation with similar objectives.
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