Any income of any institution established for charitable purposes is exempt. For getting exemption under these clauses, following requirement must be completed:
i. Making an application in Form No. 56
ii. Applying its income or accumulating it for application, wholly & exclusively to its objects;
iii. Notice of accumulation u/s 11(2) will have to be given to the assessing officer in Form No. 10
i. Making an application in Form No. 56
ii. Applying its income or accumulating it for application, wholly & exclusively to its objects;
iii. Notice of accumulation u/s 11(2) will have to be given to the assessing officer in Form No. 10
There are these days many places such as an orphanage school to N.G.O.’s where one can easily donate.. donation tax exemption
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