Wednesday, March 9, 2011

Finance Act 2010 - Inclusion of Research ASSOCIATIONS in Sec35(1)(iii)..Related amendment..

PGBP

Inclusion ofResearch ASSOCIATIONS inSec35(1)(iii)..Related amendmnt in

*Sec10(21)for exemptn of income of such ASSOCIATIONS

*80GGA forDeductn ofDonations made to such ASSOCIATIONS

*139(4C)for requirement of filing ROI if their TI before giving exemptn u/s10 exceeds basic exemptn limit

*143(3)for considering exemptn of Sec10,b4 Assessment Order.But AO may pass assessment order without giving exemption of sec10 if prescribed conditions r not satisfied by such ASSOCIATIONS

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