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Section 10(23C)(iv) notification: trust approved subject to conditions on application of income, permitted investments, and dissolution. Notification under section 10(23C)(iv) notifies Sri Sathya Sai Central Trust for assessment years 2005-2006 to 2007-2008, subject to conditions that the Trust apply or accumulate income exclusively for its objects; restrict investments to modes specified in section 11(5) except for certain retained voluntary contributions; treat business income as non-exempt unless incidental and separately accounted; require regular filing of income-tax returns; and on dissolution transfer surplus assets to a similar charitable organisation.
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Section 10(23C)(iv) notification: trust approved subject to conditions on application of income, permitted investments, and dissolution.
Notification under section 10(23C)(iv) notifies Sri Sathya Sai Central Trust for assessment years 2005-2006 to 2007-2008, subject to conditions that the Trust apply or accumulate income exclusively for its objects; restrict investments to modes specified in section 11(5) except for certain retained voluntary contributions; treat business income as non-exempt unless incidental and separately accounted; require regular filing of income-tax returns; and on dissolution transfer surplus assets to a similar charitable organisation.
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