https://www.taxtmi.com/article/detailed?id=1208 Finance Bill 2011 raises the monetary threshold in the proviso to Section 2(15), which exempts limited receipts from trade, commerce or business from causing the "advancement of any other object of general public utility" to lose its status as a charitable purpose. The author contends a uniform absolute ceiling is inequitable across diverse institutions and proposes replacing it with a proportional test allowing business receipts up to one-third of total actual receipts or the higher monetary ceiling, and seeks clarification that the test applies to actual receipts. en-us Tue, 15 Mar 2011 21:30:06 +0530 Tue, 15 Mar 2011 21:30:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1208 Finance Bill 2011 raises the monetary threshold in the proviso to Section 2(15), which exempts limited receipts from trade, commerce or business from causing the "advancement of any other object of general public utility" to lose its status as a charitable purpose. The author contends a uniform absolute ceiling is inequitable across diverse institutions and proposes replacing it with a proportional test allowing business receipts up to one-third of total actual receipts or the higher monetary ceiling, and seeks clarification that the test applies to actual receipts. Articles Income Tax Tue, 15 Mar 2011 21:30:06 +0530 https://www.taxtmi.com/article/detailed?id=1208