Tax exemption notification grants trust status subject to exclusive income use, permitted investments, filing, and dissolution transfer. The notification grants tax exemption to the National Stock Exchange Investors' Protection Fund Trust, Mumbai for assessment years 1996-97 to 1998-99 subject to conditions: exclusive application or accumulation of income for its objects; investment limited to modes permitted under Section 11(5) (except specified voluntary contributions); exclusion of business income unless incidental and separately accounted; regular filing of income-tax returns; and transfer of surplus and assets on dissolution to a similarly purposed charitable organisation.
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 grants trust status subject to exclusive income use, permitted investments, filing, and dissolution transfer.
The notification grants tax exemption to the National Stock Exchange Investors' Protection Fund Trust, Mumbai for assessment years 1996-97 to 1998-99 subject to conditions: exclusive application or accumulation of income for its objects; investment limited to modes permitted under Section 11(5) (except specified voluntary contributions); exclusion of business income unless incidental and separately accounted; regular filing of income-tax returns; and transfer of surplus and assets on dissolution to a similarly purposed charitable organisation.
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