Section 334 — Income of registered non-profit organisation

Tax on income of registered non-profit organisation

Old Act equivalent: Section 45(1) of IT Act 1961 Sub-part: Capital Gains — Computation Rules and Exemptions

Statutory Text

(1) The income-tax payable by a registered non-profit organisation on
its total income for any tax year shall be the aggregate of the amounts
calculated— ( a) at the rate of 30% on specified income for such tax year; and ( b) at the rate applicable on taxable regular income and any residual income for such tax year under other provisions of this Act. (2) The provisions of this Chapter shall apply irrespective of anything to the contrary contained in any other provision of this Act other than sections 96 to 98. Regular income.

None.

None.

None.

To be updated.