The Central Government notifies the 'Population Foundation of India, New Delhi' for the purpose of clause (23C)(iv) of section 10 of the Income-tax Act, 1961 - 237/2002 - Income Tax Act, 1961
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Tax exemption under clause 23C(iv) of Section 10 recognized for Population Foundation, subject to specified compliance conditions. Notification designates Population Foundation of India as eligible under clause (23C)(iv) of section 10 for assessment years 2002-03 to 2004-05, conditioned on applying income wholly and exclusively to its objects, limiting investments to forms specified in section 11(5) (with limited exceptions for certain voluntary contributions), treating business income as incidental only if separate books are kept, filing income-tax returns regularly, and transferring surplus assets on dissolution to a similarly purposed charitable organization.
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Tax exemption under clause 23C(iv) of Section 10 recognized for Population Foundation, subject to specified compliance conditions.
Notification designates Population Foundation of India as eligible under clause (23C)(iv) of section 10 for assessment years 2002-03 to 2004-05, conditioned on applying income wholly and exclusively to its objects, limiting investments to forms specified in section 11(5) (with limited exceptions for certain voluntary contributions), treating business income as incidental only if separate books are kept, filing income-tax returns regularly, and transferring surplus assets on dissolution to a similarly purposed charitable organization.
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