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Income Tax - Highlights / Catch Notes

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Exemption u/s 11 - Corpus donation receipt - the ...

Income Tax

March 13, 2020

Exemption u/s 11 - Corpus donation receipt - the donations/voluntary contributions received by the appellant society are outside the taxations, even for the period prior to its registration u/sec. 12AA. - the donations/voluntary contributions received by the appellant society are of Corpus and Capital nature, same are to be treated as exempt from tax liability - AT

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