Exemption u/s 10 (23C) (vi) - generation of surplus from year to ...

Income Tax

March 11, 2024

Exemption u/s 10 (23C) (vi) - generation of surplus from year to year - the court referred to precedents and a clarificatory circular issued by the Ministry of Finance. It highlighted that the mere generation of surplus income did not necessarily disqualify an educational institution from exemption under Section 10 (23C) (vi), as long as the surplus was used for educational purposes.

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Exemption u/s 10 (23C) (vi) - generation of surplus from year to ...

Income Tax

March 11, 2024

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