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    Income Tax

    Exemption u/s 11 - enhancing the addition - accumulation of...

    Charitable Trust's Pharmacy Business Income Qualifies for 15% Accumulation Exemption u/s 11 of Income Tax Act.

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    Income TaxFebruary 15, 2023Case LawsAT

    Exemption u/s 11 - enhancing the addition - accumulation of income - it is the only profits and gains derived from the incidental business of the assessee charitable-trust i.e. its pharmacy business, which would qualify as income for the purpose of computing the statutorily allowed accumulation at the rate of 15% in terms of section 11(1)(a) of the Act. - AT

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