Section 339 Income Tax Act 2025 Corpus donation. 339. Corpus donation means any donation made with a specific direction by the donor that it shall form part of the corpus of the registered non-profit organisation provided that such donation is invested or deposited in any of the modes permitted under section 350 maintained specifically for such corpus.
Section 321 Income Tax Act 2025 Association dissolved or business discontinued. 321. (1) Where any business or profession carried on by an association of persons has been discontinued or where an association of persons is dissolved, the Assessing Officer shall make an assessment of the total income of the association of persons as if no such… Read More »
Section 320 Income Tax Act 2025 12. -Discontinuance of business, or dissolution Discontinued business. 320. (1) Irrespective of anything contained in section 4, where any business or profession is discontinued in any tax year, the income of the period beginning from the first day of that tax year up to the date of such discontinuance may, at… Read More »
Section 319 Income Tax Act 2025 11. -Persons trying to alienate their assets Assessment of persons likely to transfer property to avoid tax. 319. (1) Irrespective of anything contained in section 4, where it appears to the Assessing Officer during any current tax year that any person is likely to charge, sell, transfer, dispose of or otherwise… Read More »
Section 338 Income Tax Act 2025 Income not to be included in regular income. 338. While computing the regular income of a registered non-profit organisation, the following income shall not be included:— (a) income applied outside India, where the Board, by general or special order, directs that such income shall not be so included in its… Read More »
Section 337 Income Tax Act 2025 Specified income. 337. The specified income of a registered non-profit organisation shall mean the income as specified in column B of the Table below and shall be taxable in the year provided in the column C thereof:— TABLE Sl. No. Specified income Tax year A B C 1. Any… Read More »
Section 336 Income Tax Act 2025 Taxable regular income. 336. The taxable regular income of a registered non-profit organisation for any tax year shall be— (a) nil, where 85% or more of the regular income of such tax year has been applied as per provisions of section 341 or accumulated under section 342 for charitable or religious purposes, in such… Read More »
Section 335 Income Tax Act 2025 Regular income. 335. Regular income of any tax year of a registered non-profit organisation means— (a) income from any charitable or religious activity, for which such non-profit organisation is registered, carried out by it in such tax year; (b) income other than income covered in clause (e), derived from any… Read More »
Section 334 Income Tax Act 2025 2. -Income of registered non-profit organisation Tax on income of registered non-profit organisation. 334. (1) The income-tax payable by a registered non-profit organisation on its total income for any tax year shall be the aggregate of the amounts calculated— (a) at the rate of 30% on specified income for such… Read More »
Section 333 Income Tax Act 2025 Switching over of regimes. 333. (1) Nothing contained in section 11, other than Schedule II (Table: Sl. No. 1), Schedule III (Table: Sl. Nos. 27 to 29 and 36) and Schedule VII (Table: Sl. Nos. 10 to 19 and 42 to 45), shall exclude any income of a registered non-profit organisation… Read More »