Tag: Section 10(23C)(iiiab)

Interest income to be excluded from gross receipts while computing percentage of Govt. finance for determining the exemption u/s 10(23C)(iiiab). In a recent judgment, ITAT Ranchi has held that interest income is not to be included in gross receipts of the society while computing 50% of Govt. financing …

For exemption 10(23C), educational institutions cannot have objects unrelated to education. All objects must relate to imparting education – Supreme Court ABCAUS Case Law CitationABCAUS 3615 (2022) (10) SC Important Case Laws relied upon by parties American Hotel and Lodging Association vs. Central Board of Direct Taxes (2008)10 …

CBDT prescribes revised procedure for registration of charitable trusts u/s 12A / 12AB, u/s 80G u/s 1023C etc.. Income-tax (6th Amendment) Rules 2021 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)New Delhi Notification No. 19/2021-Income Tax Dated- 26th March, 2021 G.S.R. 212(E).—In exercise of the powers conferred …

Supreme Court in a latest judgment has held that Fees collection by Universities does not amount to Government funding for exemption u/s 10(23c)(iiiab) merely because such fees are authorized under the relevant Act or fees rates are fixed by Govt. authorised Agencies Case Law Details: Civil Appeal No. 4361-4366 of …