Section 316 Income Tax Act 2025 8. -Profits of non-residents from occasional shipping business Shipping business of non-residents. 316. (1) Irrespective of anything in the other provisions of this Act, the provisions of this section shall apply for the purpose of levy and recovery of tax in the case of any ship, belonging to or chartered… Read More »
Section 317 Income Tax Act 2025 9. —Persons leaving India Assessment of persons leaving India. 317. (1) Irrespective of anything contained in section 4, when it appears to the Assessing Officer that any individual may leave India during the current tax year or shortly after its expiry, with no present intention of returning to India, the total income… Read More »
Section 347 Income Tax Act 2025 4. -Compliances Books of account. 347. Where the total income of a registered non-profit organisation, without giving effect to the provisions of this Part, exceeds the maximum amount which is not chargeable to income-tax in any tax year, such registered non-profit organisation shall be required to keep and maintain the… Read More »
Section 344 Income Tax Act 2025 3. -Commercial activities by registered non-profit organisation Business undertaking held as property. 344. Where the property held by a registered non-profit organisation includes a business undertaking, and where a claim is made that the income of any such undertaking is eligible for benefits under this Part, then the Assessing Officer… Read More »
Section 345 Income Tax Act 2025 Restriction on commercial activities by a registered non-profit organisation. 345. A registered non-profit organisation (other than a registered non-profit organisation mentioned in section 346) shall not carry out any commercial activity unless— (a) such commercial activity is incidental to the attainment of the objectives of the registered non-profit organisation; and (b)… Read More »
Section 343 Income Tax Act 2025 Deemed accumulated income. 343. (1) The regular income, as reduced by the application of income as per the provisions of section 341 and accumulated or set apart income under section 342, to the extent of 15% of regular income, shall be considered as deemed accumulated income and where such deemed accumulated income is… Read More »
Section 342 Income Tax Act 2025 Accumulated income. 342. (1) A registered non-profit organisation may accumulate or set apart any part of its regular income during any tax year by furnishing a statement to the Assessing Officer in such form and manner, as may be prescribed, on or before the due date specified in section 263(1) for furnishing… Read More »
Section 341 Income Tax Act 2025 Application of income. 341. (1) The following sums shall be allowed as application of income to a registered non-profit organisation:— (a) any sum, other than the sum referred to in clause (b), applied by it for charitable or religious purpose in India for which it is registered where such sum… Read More »
Section 340 Income Tax Act 2025 Deemed corpus donation. 340. Where the property of a registered non-profit organisation includes any temple, mosque, gurudwara, church or other place notified under section 133(1)(b)(vi), any sum or sums received by such registered non-profit organisation as donation for the purpose of renovation or repair of such temple, mosque, gurudwara, church or… Read More »
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.