https://www.taxtmi.com/acts?id=11753 Conversion, merger or failure to transfer assets on dissolution of a non-profit organisation triggers an income-tax liability measured on the organisation's net worth. Net worth is the aggregate value of total assets less liabilities, computed as on the date of conversion or merger, or on the date of dissolution, and is to be determined in accordance with prescribed valuation rules. en-us Thu, 16 Sep 2010 19:05:27 +0530 Fri, 17 Sep 2010 10:08:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11753 Conversion, merger or failure to transfer assets on dissolution of a non-profit organisation triggers an income-tax liability measured on the organisation's net worth. Net worth is the aggregate value of total assets less liabilities, computed as on the date of conversion or merger, or on the date of dissolution, and is to be determined in accordance with prescribed valuation rules. Act-Rules Bills Thu, 16 Sep 2010 19:05:27 +0530 https://www.taxtmi.com/acts?id=11753