The Central Government notifies the 'Kerala Motor Transport Workers Welfare Fund Board, Kollam' for the purpose of clause (23C) (iv) of section 10 of the Income-tax Act. 1961 - 391/2002 - Income Tax Act, 1961
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Tax recognition notification for welfare fund board requires exclusive application of income and compliance with investment and filing conditions. Notification grants conditional tax-recognition to the Kerala Motor Transport Workers Welfare Fund Board, Kollam under clause (23C)(iv) of section 10: income must be applied or accumulated solely to its objects; investments restricted to forms in section 11(5) except specified voluntary contributions; business income excluded unless incidental with separate books; regular filing of returns required; on dissolution surplus and assets must go to a charitable organization with similar objectives.
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 recognition notification for welfare fund board requires exclusive application of income and compliance with investment and filing conditions.
Notification grants conditional tax-recognition to the Kerala Motor Transport Workers Welfare Fund Board, Kollam under clause (23C)(iv) of section 10: income must be applied or accumulated solely to its objects; investments restricted to forms in section 11(5) except specified voluntary contributions; business income excluded unless incidental with separate books; regular filing of returns required; on dissolution surplus and assets must go to a charitable organization with similar objectives.
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