ICAI won the Income Tax Exemption Case in the High Court - Scope of the term "Charitable Purpose" defined by the High Court - In order to have a charity, you must have a source of income

ICAI won the Income Tax Exemption Case in the High Court - Scope of the term "Charitable Purpose" defined by the High Court - In order to have a charity, you must have a source of income - Section 10(23C)(iv) https://www.taxtmi.com/news?id=994 The High Court held that an educational institution's research and consultancy projects commissioned by government bodies, undertaken due to the institution's expertise to improve public systems, can constitute the advancement of general public utility and remain charitable; receipt of remuneration for such projects does not automatically make them commercial, and a charity may have income from gifts or business without losing charitable character. en-us Wed, 02 Sep 2009 22:30:41 +0530 Wed, 02 Sep 2009 22:32:00 +0530 TaxTMI RSS Generator ICAI won the Income Tax Exemption Case in the High Court - Scope of the term "Charitable Purpose" defined by the High Court - In order to have a charity, you must have a source of income - Section 10(23C)(iv) https://www.taxtmi.com/news?id=994 The High Court held that an educational institution's research and consultancy projects commissioned by government bodies, undertaken due to the institution's expertise to improve public systems, can constitute the advancement of general public utility and remain charitable; receipt of remuneration for such projects does not automatically make them commercial, and a charity may have income from gifts or business without losing charitable character. News - Wed, 02 Sep 2009 22:30:41 +0530 https://www.taxtmi.com/news?id=994