Exemption u/s 11 - Accumulation of income - The money referred ...

Section 11 Income Tax Act: Charitable Income Exemption Requires Specified Investments for Accumulated Funds Exceeding 15.

December 9, 2022

Case Laws Income Tax AT

Exemption u/s 11 - Accumulation of income - The money referred in Clause (b) (ii) is one accumulated or set apart. Meaning thereby that even if 85% of the income referred in clause (a) or sub-clause (b) of sub section 1 of Section 11 read with the explanation 2 to that sub section (1) is applied to charitable or religious purposes then to claim exemption on the whole of the income, the accumulated or set apart income has to be deposited or invested in the investments identified in sub section (5) of section 11. - AT

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Exemption u/s 11 - Accumulation of income - The money referred ...

Section 11 Income Tax Act: Charitable Income Exemption Requires Specified Investments for Accumulated Funds Exceeding 15.

December 9, 2022

Case Laws Income Tax AT

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