Tag Archives: Charitable purpose

Providing essential commodities at subsidized rates is Charitable activity u/s 2(15)

By | June 10, 2016

Held The assessee was established with an object to ensure supply of food grains, edible oils, dall etc., to the masses/general public through the approved outlets by State Civil supplies department by grant of substantial subsidies given by the Govt. and is a Corporation governed and controlled by the Govt. of A.P {then}. The main… Read More »

Charitable purpose in the Income-tax Act w.e.f 01.4.2016

By | December 2, 2015

Section 2 (15) of the Income Tax Act 1961 :- “charitable purpose” includes relief of the poor, education, yoga, {yoga inserted by the Finance Act, 2015, w.e.f. 1-4-2016} medical relief, preservation of environment (including watersheds, forests and wildlife) and preservation of monuments or places or objects of artistic or historic interest, and the advancement of any other… Read More »