Clause 90 - Outgoings in the case of a non-profit organisation - Direct Taxes Code Bill, 2009

Outgoings in the case of a non-profit organisation 90. The amount of outgoings referred to in section 88 shall be the aggregate of - (a) voluntary contributions received during the financial year by the non-profit organisation made with a specific direction that they shall form part of the corpus of the non-profit organisation. (b) the amount actually paid during the financial year for any expenditure, not being a capital expenditure, incurred wholly and exclusively for earning or obtaining any receipts referred to in section 95; (c) the amount actually paid during the financial year for any expenditure, not being a capital expenditure, incurred for the purposes of carrying out the permitted welfare activity; (d) the amount actually paid during the financial year for any capital expenditure for the purposes of any business, if- (i) the business is incidental to the permitted welfare activity carried on by it; and (ii) the permitted welfare activity so carried on does not involve any activity referred to in sub-clause (vi) of clause (g) of section 96; (e) the amount actually paid during the financial year for any capital expenditure in relation to any investment asset, not being a financial asset; (f) any amount, other than any loan or advance, actually paid during the financial year to any other non-profit organisation engaged in similar permitted welfare activity; and (g) any amount applied outside India during the financial year, if- (i) the amount is applied for an activity which tends to promote international welfare in which India is interested; and (ii) the non-profit organisation is notified by the Central Government in this behalf.