The Central Government notifies the 'Sri Veera Venkata Satyanarayana Swamy Devastannam, Anavaram, Andhra Pradesh' for the purpose of clause (23C)(v) of section 10 of the Income-tax Act, 1961 - 299/2002 - Income Tax Act, 1961
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Charitable status recognition: notification grants tax-exemption subject to income use, investment, accounting, filing and dissolution conditions. Notification grants recognition under clause (23C)(v) of section 10 to Sri Veera Venkata Satyanarayana Swamy Devastannam, subject to conditions: income must be applied or accumulated solely for its objects; investments restricted to modes in section 11(5) except specified tangible contributions; business profits excluded unless incidental and separately accounted; regular filing of income-tax returns is required; and on dissolution surplus and assets must go to a similar 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 status recognition: notification grants tax-exemption subject to income use, investment, accounting, filing and dissolution conditions.
Notification grants recognition under clause (23C)(v) of section 10 to Sri Veera Venkata Satyanarayana Swamy Devastannam, subject to conditions: income must be applied or accumulated solely for its objects; investments restricted to modes in section 11(5) except specified tangible contributions; business profits excluded unless incidental and separately accounted; regular filing of income-tax returns is required; and on dissolution surplus and assets must go to a similar charitable organization.
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