Just a moment...

Top
Help
×

By creating an account you can:

Logo TaxTMI
>
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 TMI Notes - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Law:
---- All Laws----
  • ---- All Laws----
  • Benami Property
  • Bill
  • Central Excise
  • Companies Law
  • Customs
  • DGFT
  • FEMA
  • GST
  • GST - States
  • IBC
  • Income Tax
  • Indian Laws
  • Money Laundering
  • SEBI
  • SEZ
  • Service Tax
  • VAT / Sales Tax
Types:
---- All Types ----
  • ---- All Types ----
  • Act Rules
  • Case Laws
  • Circulars
  • Manuals
  • News
  • Notifications
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
RelevanceDefaultDate
    NewsBill
    AMENDMENT TO SEVENTH SCHEDULE TO THE FINANCE ACT, 2001
    NewsBill
    EXEMPTION FROM CENTRAL EXCISE DUTY ON VALUE OF BIOGAS/COMPRESSED BIOGAS (CBG) CONTAINED IN BLENDED C...
    NewsBill
    DEFERMENT OF DATE OF IMPLEMENTATION OF HIGHER EXCISE DUTY ON SALE OF UNBLENDED DIESEL
    NewsBill
    AMENDMENTS IN THE CGST ACT, 2017
    NewsBill
    AMENDMENTS IN THE IGST ACT, 2017
    Intermediary Services Under Section 2(13) of the IGST Act and Export of Services Under Section 2(6):...
    Distinction Between Setting Aside an Illegal Bail Order and Cancellation of Bail: Revisional Scrutin...
    Case LawsIncome Tax
    Section 153C (Finance Act, 2015) and Third-Party Search Assessments: Interplay of Belongs To and Per...
    Case LawsIncome Tax
    Effect of Section 92CA(1) Reference on Assessment Limitation: Application of Section 153(4) in Trans...
    Case LawsIncome Tax
    Digital Material Recovered in Search under Section 132 and Its Nexus with the Non-Searched Person: C...
    Refund Disputes Linked to Rule 96(10) and Rule 89(4B): Consequences of Omission of Rules Without Exp...
    Service Mechanisms (for Notices and SCN) in GST: Deemed Service, Portal Availability, and Statutory ...
    Case LawsCustoms
    Due Compliance with Section 138C(4) of the Customs Act, 1962 for Admissibility of Electronic Records...
    Case LawsCustoms
    Sequential Application of the General Rules for Interpretation in Customs Tariff Classification unde...
    Section 74 CGST Proceedings and the Impermissibility of Clubbing Multiple Financial Years in a Singl...
    Composite Show Cause Notices Under Section 74 of the CGST Act, 2017 and the Requirement of Tax-Perio...
    Case LawsCustoms
    Reverse Burden, Ownership Attribution, and Proof in Gold Seizure Cases: Reaffirming Procedural Safeg...
    Case LawsIncome Tax
    Section 68, Loan Credits, and the Limits of Suspicion: Evidentiary Discipline in Search-Linked Asses...
    Case LawsIncome Tax
    JAO vs. FAO: Reassessment in the Faceless Era: The Continuing Validity of JAO Jurisdiction Pending S...
    Case LawsIndian Laws
    Cheque Dishonour, Tax Compliance, and Judicial Reform: Legally Enforceable Debt and Procedural Innov...
❯❯
MaximizeMaximizeMaximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

    +

    Are you sure you want to delete "My most important" ?

    NOTE:

    Notes
    Showing Results for :
    Reset Filters
    Results Found:
    Show All SummariesHide All Summaries
    NewsBill
    Show AI Summary
    Chewing and related tobacco NCCD schedule rates raised to 60% from May 1, 2026, while effective rate stays 25%.
    Seventh Schedule to the Finance Act, 2001 is amended to raise NCCD rates from 25% to 60% for HS 2403 99 10 (chewing tobacco), HS 2403 99 30 (jarda scented tobacco) and HS 2403 99 90 (other tobacco products including gutkha) effective 01.05.2026, while a notification will maintain the applied effective rate at 25%.
    NewsBill
    Show AI Summary
    Biogas/CBG in blended CNG: value and related taxes excluded from transaction value for central excise from 02.02.2026.
    The value of Biogas/Compressed Biogas (CBG) contained in blended CNG, and the central, state, union territory or integrated taxes paid on that Biogas/CBG, are excluded from the transaction value for computing central excise duty on blended CNG; the exclusion is effected by amending the existing notification framework and takes effect from 02.02.2026, with the prior GST-only relief rescinded.
    NewsBill
    Show AI Summary
    Unblended diesel additional excise duty implementation deferred until 31.03.2028 by amendment to existing notification effective immediately.
    The additional excise duty of Rs.2 per litre on unblended diesel is deferred until 31.03.2028 by amendment of Notification No. 11/2017 Central Excise through Notification No. 02/2026 Central Excise (01.02.2026), thereby postponing the levy of the higher duty on unblended diesel.
    NewsBill
    Show AI Summary
    Goods and Services Tax: amendments remove discount-agreement link, expand refund scope, and allow interim appellate authorities.
    Amendments remove the requirement that a post-sale discount be linked to an agreement and prescribe issuance of a credit note under section 34 when input tax credit is reversed; section 34 is amended to reference section 15. Section 54 is amended to extend provisional refunds to inverted duty structure claims and to remove the sanction threshold for refunds on exported goods with tax paid. Section 101A gains sub-section (1A) allowing the Central Government to notify an existing authority or tribunal to hear appeals under section 101B pending the National Appellate Authority, with sub-sections (2)-(13) not applying where such empowerment occurs, effective 01.04.2026.
    NewsBill
    Show AI Summary
    Place of supply for intermediary services will follow the IGST Act default provision after omission of the specific clause.
    The amendment omits clause (b) of sub section (8) of section 13 of the Integrated Goods and Services Tax Act, 2017 so that the place of supply for intermediary services will be determined by the default provision in section 13(2) of the IGST Act, aligning intermediary services with the Act's general place of supply framework.
    Case LawsGST
    Show AI Summary
    Education consultancy commissions treated as exportable services, not intermediary services, where foreign institution is the contracting recipient.
    The Court held that the intermediary test focuses on whether a person merely "arranges or facilitates" a supply, excluding those who supply on their own account; where agreements and consideration establish a principal-to-principal supply to foreign educational institutions, the services qualify as export of services and not intermediary services, making place of supply the recipient's location and supporting refund entitlement.
    Case LawsGST
    Show AI Summary
    GST arrests: Court set aside bail premised on format defects where substantive compliance and no demonstrable prejudice existed.
    The High Court held that a challenge to the legal sustainability of a bail order is distinct from cancellation for supervening conduct and, on the facts, found substantive compliance with CGST arrest safeguards (including authorisation recording reasons to believe and supply of arrest memo and grounds) and BNSS Sections 47-48 when assessed through a prejudice oriented test; absence of statutory headings or non enclosure of detailed grounds with the relative did not, without demonstrable prejudice, justify the magistrate's bail order, which was set aside and the bail bonds cancelled with liberty to apply afresh.
    Case LawsIncome Tax
    Show AI Summary
    Section 153C: amended trigger applies if seized material is received post amendment, widening third party assessment scope.
    The substituted text widens the jurisdictional trigger for third party assessments from strict ownership to where books or documents "pertain to" or contain information that "relates to" the other person; the first proviso's deeming fiction makes the date of receipt of seized material by the other person's Assessing Officer the operative reference point, so if receipt, satisfaction and issuance of notice occur after the amendment, the amended provision governs, subject to the requirement of recorded satisfaction that the material bears on determination of total income.
    Case LawsIncome Tax
    Show AI Summary
    Transfer pricing assessments: outer statutory limitation governs final orders; DRP deadlines do not enlarge the overall limitation.
    The tribunal permitted admission of additional legal grounds based on facts on record and held that the outer statutory limitation governs final assessments in eligible-assessee transfer pricing cases. The dispute-resolution procedural deadline requires prompt action after directions but does not enlarge the overall limitation; statutory extension available for transfer pricing references is to be applied to the outer limit, and external judicial limitation extensions do not extend the time for completing original assessments.
    Case LawsIncome Tax
    Show AI Summary
    Digital material recovered in a third party search cannot alone justify invoking Section 153C without a direct nexus to the non searched person.
    Section 153C jurisdiction requires seized or requisitioned books of account or documents from a search that relate to or pertain to a non searched person; digital images recovered in a third party search that did not name or connect the petitioners could not sustain Section 153C. The Assessing Officer's reliance on post search forms, voluntary supply of documents, public domain inquiries, and an inferential consideration mismatch rendered the recorded satisfaction de hors the statutory trigger, allowing writ relief for jurisdictional defect.
    Case LawsGST
    Show AI Summary
    GST refund and recovery proceedings founded solely on omitted rules lapse absent express saving clause.
    Omission of Rule 89(4B) and Rule 96(10) without an express saving clause causes pending proceedings and non-final orders founded solely on those rules to lapse, except for transactions past and closed. The General Clauses Act's preservation principle does not apply to omissions effected by subordinate rules/notification, and transitional or laying provisions of the parent statute do not operate as omnibus saving clauses. Consequently, undisposed show cause notices and orders dependent only on the omitted rules were quashed and affected refund applications were remitted for reconsideration after hearing within a stipulated period.
    Case LawsGST
    Show AI Summary
    GST electronic service by portal or email may not trigger appeal limitation absent verifiable communication or retrieval evidence.
    Whether portal upload or e-mail intimation automatically triggers the limitation period under Section 107 depends on whether such electronic modes fall within the statutory deeming fictions of Section 169(2) or Section 169(3). Although Section 169(1)(c)-(d) and Rule 142 permit electronic service, the express deeming consequences are confined to specified modes; absent acknowledgement or verifiable retrieval logs, IT Act presumptions of dispatch/receipt do not alone establish communication for appeal limitation.
    Case LawsCustoms
    Show AI Summary
    Electronic evidence admissibility in customs proceedings: contemporaneous extraction records and Section 108 statements can satisfy the certificate requirement.
    The Court held that contemporaneous extraction/printing records, device particulars, and un-retracted Section 108 statements acknowledging computer printouts can constitute substantive due compliance with Section 138C(4) of the Customs Act, 1962; a certificate not in prescribed format will not automatically invalidate admissibility where authenticity is not disputed, while other statutory evidentiary issues (including Section 138B) remain open for adjudication.
    Case LawsCustoms
    Show AI Summary
    Aluminium shelving classed by import condition: use allowed only if statutorily permitted; supports aren't parts at import.
    Classification requires sequentially applying GRI 1 with relevant Section and Chapter Notes; aligned HSN Explanatory Notes guide interpretation. Use is relevant only where permitted and must reflect intended use objectively evident at importation per the as imported principle. A "part" must have an essential functional nexus to machine operation; mere supporting platforms or shelves that do not contribute mechanically to operation are not parts and may instead fall under material-based structure headings.
    Case LawsGST
    Show AI Summary
    Composite GST show cause notices spanning multiple financial years misalign tax-period limitation and may be quashed.
    Issuance of a single consolidated show cause notice covering distinct financial years was held impermissible because GST liability is tethered to tax-period returns and limitation timelines; consolidation misaligns period-specific adjudication clocks, constitutes a jurisdictional defect, and warrants quashing with liberty to re-issue notices in strict conformity with the period-wise statutory scheme.
    Case LawsGST
    Show AI Summary
    Composite GST show cause notices aggregating multiple financial years lack scope; demands must be period-specific and limitation-linked.
    The GST demand-and-recovery framework is period-based: tax liability and limitation are tied to returns for each tax period or financial year, and limitation is computed from the annual return due date or an erroneous return for that year. Consolidating multiple financial years into one consolidated show cause notice is outside the statutory design and constitutes a jurisdictional defect; administrative advisories cannot override the period-specific statutory scheme. Authorities may, if no other impediment exists, initiate proceedings framed strictly period-wise under the applicable demand provisions.
    Case LawsCustoms
    Show AI Summary
    Gold/jewellery cases require mandatory section 138B admissibility for investigation statements before proving ownership or smuggling links.
    Section 138B creates a mandatory admissibility regime for section 108 investigation statements: unless clause (a) applies, the maker must be examined before the adjudicating authority and an admissibility opinion recorded before using those statements to prove truth. Ownership cannot be fixed on an appellant where such statements are excluded, and confiscation/penalty theories for jewellery must follow the correct statutory route-section 111 for imported goods and section 120 when alleging goods are made from smuggled inputs. Documentary explanations require verification before rejection.
    Case LawsIncome Tax
    Show AI Summary
    Unsecured loans through banking channels cannot be treated as unexplained credits absent transaction specific incriminating material.
    Unsecured bank routed loans cannot be treated as unexplained credits where the assessee produced confirmations, lender bank statements, audited accounts and tax filings, and the Assessing Officer relied chiefly on uncorroborated third party search statements or administrative press releases without transaction specific incriminating material. For years prior to the Finance Act, 2022 amendment, a generalized source of source obligation for loan credits is not mandated; repayments in the lender's account are distinct from fresh upstream borrowings. Appellate authorities may independently verify facts under their powers if the AO is given opportunity to respond.
    Case LawsIncome Tax
    Show AI Summary
    Reassessment jurisdiction: both JAO and FAO held to have concurrent authority, pending apex resolution of the faceless regime.
    The Delhi High Court holds that both JAO and FAO possess concurrent jurisdiction to initiate reassessment under Section 148, construing Section 151A as administrative/enabling rather than jurisdiction-extinguishing. It reasons that routine SLP dismissals do not automatically create binding Article 141 precedent to overturn a coordinate-bench High Court view, and declines to treat the Delhi precedent as per incuriam absent a contrary Supreme Court ratio; interim apex stays are case-specific and do not displace the Delhi position.
    Case LawsIndian Laws
    Show AI Summary
    Cheque dishonour cases: statutory presumptions preserved; tax breaches don't negate enforceability; procedural reforms directed.
    Once a cheque's execution is admitted, statutory presumptions of consideration and of a legally enforceable debt arise and, though rebuttable, the initial burden lies on the accused; unsupported claims of payer incapacity or a 'blank cheque' are insufficient without positive evidence. Breach of tax-related cash-transaction rules attracts fiscal penalties but does not render the underlying loan unenforceable for cheque-dishonour purposes. Revisional courts may not overturn concurrent factual findings absent perversity or jurisdictional error. Procedural reforms and calibrated compounding measures are directed to expedite and streamline Section 138 proceedings.

    TMI Notes

    Back

    All TMI Notes

    Showing Results for :
    Reset Filters
      No Records Found

      TMI Notes

      Back

      All TMI Notes

      whatsappJoin Channel
      Showing Results for : Reset Filters

      Comparison of section 354 "Application for approval for purpose of section 133(1)(b)(ii)." between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)

      12 September, 2025

      Contents
      Acts
      Rules & Regulations
      Summary
      Note

      Note

      -

      Bookmark

      Print

      Print

      Section 354 Application for approval for purpose of section 133(1)(b)(ii).

      Income-tax Act, 2025

      At a Glance

      Clause 354 of the Income Tax Bill, 2025 - Old Version sets out the statutory scheme for applications by registered non-profit organisations or specified persons for approval u/s 133(1)(b)(ii) (approval relevant to receipt of donations). It matters to charitable organisations, donors and tax authorities because approval enables donor deduction treatment under the linked provision. The Bill sets eligibility conditions, timelines for application and orders, procedural safeguards and validity periods for approvals. Effective date or commencement is Not stated in the document.

      Background & Scope

      Statutory hook: Clause 354 is drafted for the purpose of obtaining approval for application of section 133(1)(b)(ii) (as referenced in the heading). The provision governs who may apply (a registered non-profit organisation or a person referred to in Schedule III (Table: Sl. No. 1)), the conditions for eligibility, procedural stages for the Principal Commissioner or Commissioner, timelines for applications and orders, and the period of validity of approvals. The text contains no defined terms other than references to "tax year," "registered non-profit organisation," and the referenced Schedule III; definitions of those terms are Not stated in the document. The Bill prescribes that forms, manner, statements, verifications, certificates to donors and correction statements shall be "prescribed" but the prescriptive instruments themselves are Not stated in the document.

      Statutory Provision Mode

      Text & Scope

      Coverage: Clause 354 permits a registered non-profit organisation or a person listed in Schedule III (Table: Sl. No. 1) to apply to the Principal Commissioner or Commissioner for approval for the purpose of section 133(1)(b)(ii). The authority for application, the form and manner are to be as prescribed. The clause sets out seven express conditions (clauses (a) to (g)) that the applicant must satisfy or comply with:

      • (a) the organisation's activities are not expressed to benefit any particular religious community or caste;
      • (b) it is established in India for a charitable purpose and "does not incur any expenditure of an amount being 5% or more of its total income during a tax year which is of a religious nature";
      • (c) no instrument or rules allow transfer of whole or part of assets for any purpose other than a charitable purpose;
      • (d) it maintains regular accounts of receipts and expenditure;
      • (e) it prepares and delivers a prescribed statement for prescribed periods, in prescribed form and verified manner, within prescribed time, to the prescribed income-tax authority or an authorised person;
      • (f) it delivers correction statements for rectification or updating of the statement required under (e), in prescribed form and verified manner;
      • (g) it furnishes a certificate to the donor specifying the donation amount within a prescribed period from date of receipt, containing requisite particulars in the prescribed manner.

      Timelines and validity: Sub-section (2) contains a five-row Table specifying application time limits, time for the Principal Commissioner or Commissioner to pass orders, and the validity period of approval, distinguishing cases where activities have commenced, where activities have not commenced, provisional approvals, and expiry/renewal situations. The Table prescribes: provisional approvals for new applicants (three tax years), approvals for applicants with commenced activities (five tax years), and specific application windows and order timelines (one month for the month-end case; six months from end of quarter in other cases).

      Interpretation

      Legislative intent indicated by the text: The structure indicates an intent to balance facilitation of charitable funding (by providing a route to obtain approval relevant for donor deduction) with safeguards to ensure charitable character and compliance with other laws. The enumerated conditions focus on: non-discrimination by religion/caste; confinement of assets to charitable purposes; limits on religious expenditure; maintenance and submission of accurate accounts and statements; and donor-level certification. The procedural timeframe table suggests an intent to provide predictability in administrative processing. The text does not contain an express legislative statement of purpose or policy rationale beyond these provisions.

      Exceptions/Provisos

      No separate provisos or exceptions beyond the specified conditions and the Table are included in Clause 354. There are no express carve-outs for particular categories of organisations, acute exigencies, or definitions of "religious nature" expenditure. Any exceptions or further qualifying language is Not stated in the document.

      Illustrations

      • Example 1: A registered non-profit which has not commenced activities applies during the tax year from which it seeks approval; the authority must pass an order within "One months from the end of the month in which application is made" and, if provisional approval is granted, the approval is valid for "Three tax years commencing from the tax year in which such application is made." (This example follows the Table text.)
      • Example 2: A registered non-profit whose activities have commenced applies at any time during the tax year from which approval is sought; the authority has six months from the end of the quarter in which application is made to pass an order; if approved the validity is five tax years commencing from that tax year. (Derived directly from the Table.)
      • Example 3: An organisation incurs religious-nature expenditure equal to 5% of total income in a tax year. Under clause (b) its status is affected because clause (b) provides it "does not incur any expenditure of an amount being 5% or more..."-therefore, an organisation with exactly 5% religious expenditure would be ineligible. (The document does not provide a worked example; this is a textual reading of clause (b).)

      Interplay

      The clause refers to section 133(1)(b)(ii) as the substantive hook for approval but does not reproduce that section or explain the precise consequence of approval under that section. The clause references compliance "of such requirements of any other law in force" but does not specify which laws or how conflicts are to be resolved. The clause requires prescribed forms, statements and donor certificates but the relevant Rules or Notifications prescribing them are Not stated in the document. Interaction with income-tax assessment procedures, charitable trust law, the applicable Schedules (Schedule III), or other regulatory regimes is not elaborated in the text.

      Differences between the two provisions and practical impact

      • Reference to Schedule: Document 1 (Section 354, Income-tax Act, 2025) refers to "Schedule VII (Table: Sl. No. 1)"; Document 2 (Clause 354, Income Tax Bill, 2025 - Old Version) refers to "Schedule III (Table: Sl. No. 1)".
        • Practical impact: This change alters which classes of persons fall within the eligibility reference. The precise practical effect depends on the contents of the respective Schedules; those listed in Schedule III will differ from those in Schedule VII, so an entity's eligibility to apply may be expanded or narrowed depending on which Schedule applies. The document does not state the contents of either Schedule.
      • Religious-expenditure threshold wording: Document 1 states the applicant "does not incur any expenditure of an amount exceeding 5% of its total income during a tax year which is of a religious nature." Document 2 states the applicant "does not incur any expenditure of an amount being 5% or more of its total income during a tax year which is of a religious nature."
        • Practical impact: The two phrasings create different inclusive/exclusive thresholds. Document 1 prohibits expenditure that exceeds 5% (i.e., expenditure >5% is prohibited; expenditure equal to 5% appears permissible). Document 2 prohibits expenditure that is "5% or more" (i.e., expenditure >=5% is prohibited). This is a material drafting difference: under Document 2 an organisation whose religious-nature expenditure equals exactly 5% of total income would be ineligible; under Document 1 that organisation would appear eligible. The documents do not provide further clarifying definitions or examples.
      • Minor drafting differences in procedural wording: The order and phrasing in sub-section (3) differ slightly. Document 2 frames the inquiries as being "in order to satisfy himself as to the compliance of such requirements of any other law in force, as are material for the purpose of achieving its objects, and the genuineness of activities," with an explicit conjunctive linking; Document 1 lists genuineness and compliance first then continues.
        • Practical impact: These are drafting variations that change emphasis but, on their face, not the substantive standard-the authority must be satisfied as to genuineness and compliance. Absent further context or definitions, the operational test remains similar. The document does not state any interpretive guidance about how these differences should be resolved.
      • Other variations: Minor differences (for example "as prescribed" versus "as may be prescribed") are present.
        • Practical impact: These appear stylistic and do not, by themselves in the provided text, change substantive rights or obligations. The document does not state any consequential administrative guidance.

      Practical Implications

      • Eligibility screening: Applicants must ensure they satisfy the seven listed conditions. In particular, the religious-expenditure metric ("5% or more") is a hard threshold in the text and can render otherwise qualifying organisations ineligible if religious spending equals or exceeds that proportion. Organisations should carefully compute and document the nature of expenditures to demonstrate compliance with clause (b). The document does not provide a methodology for such calculation.
      • Record-keeping and reporting: Clauses (d), (e) and (f) require maintenance of regular accounts and submission (and correction) of prescribed statements. This creates clear record-keeping obligations; the precise contents, form, timing and verification procedures are to be prescribed and are Not stated in the document. The requirement to furnish donor certificates (clause (g)) imposes an administrative obligation on the recipient organisation.
      • Timelines for administrative action: The Table sets finite time windows for applicants to file and for the Principal Commissioner/Commissioner to decide; applicants should plan filings to avoid missed windows, especially on expiry/renewal scenarios where advance filings (at least six months) are mandated.
      • Risk of rejection/cancellation: Sub-section (3) allows the authority to call for documents and make inquiries; if not satisfied, it may reject an application (and in some cases cancel approval). The clause provides procedural fairness by requiring a reasonable opportunity of being heard before rejection, but the operational scope of inquiries and what constitutes satisfaction is Not stated in the document.

      Key Takeaways

      • Clause 354 provides a statutory route for registered non-profits or specified persons to obtain approval relevant to donations u/s 133(1)(b)(ii).
      • Seven express eligibility and compliance conditions cover non-discrimination, charitable purpose, restrictions on asset transfer, accounts, prescribed statements, correction mechanisms and donor certificates.
      • The provision sets distinct application windows, decision timeframes and validity periods (three or five tax years, depending on circumstances) in a five-row Table.
      • Clause (b) contains a strict threshold on "religious-nature" expenditure-"5% or more" of total income-which can render organisations ineligible even if expenditure equals exactly 5%.
      • The Principal Commissioner/Commissioner has inquiry powers and may approve, reject or (where applicable) cancel approvals, but must afford a reasonable opportunity of being heard before rejection.
      • Many operational details (definitions, prescribed forms, calculation rules, content of Schedules, and applicable other laws) are left to prescription or are Not stated in the document.

      Full Text:

      Section 354 Application for approval for purpose of section 133(1)(b)(ii).

      Topics

      ActsIncome Tax