Entity Denied Section 11 Tax Exemption; Activities Exceed 20% Trade Threshold u/s 2(15) Income Tax Act.

Entity Denied Section 11 Tax Exemption; Activities Exceed 20% Trade Threshold u/s 2(15) Income Tax Act. https://www.taxtmi.com/highlights?id=70700 Benefit of exemption u/s 11 - charitable activity - Activities in the nature of trade, commerce or business - the receipts from these activities which is in the nature of trade business, or commerce is definitely more than 20% of the total receipts, hence, as per proviso to section 2(15) of the Act, the activities are not for charitable purpose. Assessee is not eligible for exemption u/s 11 - AT en-us Mon, 03 Jul 2023 18:32:52 +0530 Tue, 04 Jul 2023 12:08:50 +0530 TaxTMI RSS Generator Entity Denied Section 11 Tax Exemption; Activities Exceed 20% Trade Threshold u/s 2(15) Income Tax Act. https://www.taxtmi.com/highlights?id=70700 Benefit of exemption u/s 11 - charitable activity - Activities in the nature of trade, commerce or business - the receipts from these activities which is in the nature of trade business, or commerce is definitely more than 20% of the total receipts, hence, as per proviso to section 2(15) of the Act, the activities are not for charitable purpose. Assessee is not eligible for exemption u/s 11 - AT Highlights Income Tax Mon, 03 Jul 2023 18:32:52 +0530 https://www.taxtmi.com/highlights?id=70700