Thursday, November 13, 2014

Section 80G - Deductions - Donations to certain funds, charitable institutions (Approval of exemption)

The High Court of Gujarat held that at the time of granting approval of exemption under section 80G, only object of trust is required to be examined and, therefore, assessee’s application seeking approval under section 80G(5) could not be rejected on ground that it failed to incur expenditure to extent of 85 per cent of its income during relevant year

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