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The Central Government notifies the 'K.D.MalviyaNationalOilMuseum, New Delhi' for the purpose of clause (23C) (iv) of section 10 of the Income-tax Act. 1961 - 396/2002 - Income Tax Act, 1961
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Charitable tax exemption under clause 23C(iv) granted to museum, subject to exclusive income use and compliance conditions. Notification designates K.D. Malviya National Oil Museum as eligible for the charitable exemption provision for specified assessment years subject to conditions requiring exclusive application or accumulation of income for its objects; investment or deposit of funds only in permitted forms; 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 like-minded charitable organization.
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.
Charitable tax exemption under clause 23C(iv) granted to museum, subject to exclusive income use and compliance conditions.
Notification designates K.D. Malviya National Oil Museum as eligible for the charitable exemption provision for specified assessment years subject to conditions requiring exclusive application or accumulation of income for its objects; investment or deposit of funds only in permitted forms; 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 like-minded charitable organization.
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