TMI BlogSociety's Income Tax Computed as NIL, Qualifies for Exemption u/s 11 Due to Charitable Application of Funds.Computation of income as NIL - when the assessee society has applied more than 85% of its total receipts for the objects and charitable purposes of the society, exemption u/s 11 allowed. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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