The Central Government notifies the 'The Institute of the Franciscan Missionaries of Mary, Society, No. 12, Nilgiris T.N.' for the purpose of clause (23C)(v) of section 10 of the Income-tax Act, 1961 - 336/2002 - Income Tax Act, 1961
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Tax exemption recognition under clause 23C(v) granted to a society, subject to purpose, investment, filing, and dissolution conditions. Notification recognizes The Institute of the Franciscan Missionaries of Mary, Society, No. 12, Nilgiris T.N. as eligible under clause (23C)(v) of section 10 of the Income-tax Act for assessment years 1989-90 to 1991-92, provided its income is applied wholly and exclusively to its objects, investments are limited to statutory modes (except certain voluntary contributions held as physical articles), business income is excluded unless incidental and maintained in separate books, regular income-tax returns are filed, and on dissolution assets and surplus transfer to a similarly purposed 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.
Tax exemption recognition under clause 23C(v) granted to a society, subject to purpose, investment, filing, and dissolution conditions.
Notification recognizes The Institute of the Franciscan Missionaries of Mary, Society, No. 12, Nilgiris T.N. as eligible under clause (23C)(v) of section 10 of the Income-tax Act for assessment years 1989-90 to 1991-92, provided its income is applied wholly and exclusively to its objects, investments are limited to statutory modes (except certain voluntary contributions held as physical articles), business income is excluded unless incidental and maintained in separate books, regular income-tax returns are filed, and on dissolution assets and surplus transfer to a similarly purposed charitable organization.
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