04 February 2008
One of Client have a charitable trust with main Object of Promoting Health through Free Camps, To Open blood Bank Etc.
He has Opened a Blood bank,has invested in some Lab equipments,The Blood from Blood Bank is given to required people on nominal charges towards Maintenance and Testing charges
trust has collected some donation towards investments in Lab equipments of BLood bank
CAN BE CLAIM EXEMPTION U/S 10(23c) OF THE INCOME TAX as INCOME OF HOSPITAL
04 February 2008
the income shall be exempt if the charitable institution is notified by the Central Govt. in the official gazette having regards to the objects of the fund or institution and its importance throughout India or any state or states. it is also exempt if they are approved by the prescribed authority instead of being notified by the central govt.
CAclubindia
