Income-tax (13th Amendment) Rules, 2014 - Percentage of Government Grant for considering university, hospital etc. as substantially financed by the Government for the purposes of Section 10(23C)

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..... FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 79/2014 INCOME-TAX New Delhi, the 12th December, 2014 S.O. 3168 (E). In exercise of the powers conferred by section 295 read with sub-clauses (iiiab) and (iiiac) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961) , the Central Board of Direct Taxes hereby makes t .....

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..... previous year, if the Government grant to such university or other educational institution, hospital or other institution exceeds fifty percent. of the total receipts including any voluntary contributions, of such university or other educational institution, hospital or other institution, as the case may be, during the relevant previous year. [F.No.142/12/2014-TPL] (Ashish Kumar) Di .....

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