whether exemption u/s 10(23C)(iiiae) can be denied to a society carrying on philonthropic activities having surplus from year to year....??
Tushar Mandhyan (Student) (33 Points)
05 August 2014whether exemption u/s 10(23C)(iiiae) can be denied to a society carrying on philonthropic activities having surplus from year to year....??
CA R SEETHARAMAN
(CA Practice )
(143595 Points)
Replied 06 August 2014
The institution to fall within the sub clause must exist solely for philanthropic purposes and not for the purpose of profit
CAclubindia
