https://www.taxtmi.com/manuals?id=2496 Section 353 applies where a registered non-profit organisation fails to maintain required books, obtain an audit, furnish its return, or carries on commercial activity contrary to section 346. Regular income less allowable expenditure becomes taxable regular income chargeable under section 334. Only expenditure incurred in India for organisational objects and satisfying prescribed corpus, borrowing, depreciation, donation and payment restrictions is allowable. No other set-off, deduction or allowance may reduce taxable regular income. en-us Thu, 16 Mar 2023 15:16:00 +0530 Wed, 30 Sep 2026 14:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=2496 Section 353 applies where a registered non-profit organisation fails to maintain required books, obtain an audit, furnish its return, or carries on commercial activity contrary to section 346. Regular income less allowable expenditure becomes taxable regular income chargeable under section 334. Only expenditure incurred in India for organisational objects and satisfying prescribed corpus, borrowing, depreciation, donation and payment restrictions is allowable. No other set-off, deduction or allowance may reduce taxable regular income. Manuals Income Tax Thu, 16 Mar 2023 15:16:00 +0530 https://www.taxtmi.com/manuals?id=2496