The Supreme Court on Wednesday said in a major judgment that educational institutions will not be entitled to approval under Section 10(23C) of the Income Tax Act, where their object appears to be profit-oriented. The IT Act i.e. Section 10 of the Income Tax Act exempts certain classes of income from taxation. During the hearing of the matter, a bench headed by Chief Justice UU Lalit observed that one of the issues which needed to be resolved in this matter was the correctness of the word 'sole' in section 10(23C)(vi) of the Income Tax Act. The meaning is related to, that is, exempt income because the university or other educational institution concerned exists only for educational purposes and not for profit purposes.
The Supreme Court said, where the object of the institution appears to be profit-oriented, such institution shall not be entitled to approval under section 10 (23C) of the IT Act.
Also Read: Parle-G: The company is working on its expansion, and plans to buy this Polish company!
IND vs SA Playing-11: Today is a 'do or die' match for India, if they lose then they will be defeated. Will lose the series against Africa after eight years
The Indian team's dominance over South Africa in T20 for the last five years is in danger. It is necessary to win the third and final match on Thursday against the Indian team, which is 0-1 down after
The government of India alerted about Corona, Mansukh Mandaviya will hold a meeting with the health ministers of the states today
The Government of India has also become cautious because of the ever-increasing corona cases in China. At the same time, today at 3 pm, Union Health Minister Dr. Mansukh Mandaviya will hold a meeting
India's nuclear power capacity increased by 40% in 8 years: Government told in Rajya Sabha, production reached 47,112 million units in 2021-22
The country's nuclear power capacity has increased by 40% in 8 years. Union Minister Jitendra Singh gave this information in the Rajya Sabha on Thursday. Singh said that there was a big jump in
PM Modi: Prime Minister Modi's visit to Telangana today, will inaugurate and lay the foundation stone of many development projects in Adilabad
Prime Minister Narendra Modi will be on a tour of Telangana and Tamil Nadu today. During this time he will inaugurate and lay the foundation stone of many projects. The Prime Minister's Office (PMO)
Jaishankar: Jaishankar told foreign policy of 10 days, 10 months, and 10 years, said - understand the difference after 26/11 and Pulwama
External Affairs Minister S. Jaishankar's outspoken and active foreign policy is discussed all over the world. 'India and Indian First' is visible in his statements and actions. On Tuesday, he
Connection of immunity with the green environment: Children in Finland developed lawn, increased immunity within a month
Children's immunity increased by playing in the green environment and among the plants and vegetation in the lawn for only one month. This result has come to the fore in an experiment in the European
There will be no elections in Bangladesh, Sheikh Hasina is still the Prime Minister? 'I was not given resignation', President claims after two and a half months
Bangladesh President Mohammad Shahabuddin has said that he has no documentary evidence that Sheikh Hasina resigned from the post of Prime Minister. Sheikh Hasina resigned from the post of Prime
Vikrant Massey left the industry? Announced retirement from acting, wrote in the post 'Now it's time to go back home...'
Vikrant Massey is one of the most talented actors in Bollywood. He has played many types of roles in his career so far and has made a place in the hearts of the audience. But on December 1, Vikrant
NMFT Conference: Amit Shah said, 'Terrorism should not be linked to any religion'
Union Home Minister Amit Shah on Friday (18 November) participated in the 3rd 'No Money for Terror' (NMFT) Ministerial Conference on Counter-Terrorism Financing. Addressing the conference, Amit Shah
Cracks in 868 buildings so far in Joshimath: 243 families sent to a relief camp, relief amount of more than 5 crores given
So far 868 buildings have developed cracks due to land subsidence in Joshimath, Uttarakhand. Chamoli's DM Himanshu Khurana informed him about this on Friday. He said that 181 of these buildings are in
