Section 335 — Regular income

Old Act equivalent: 45(2) of IT Act 1961 Sub-part: Capital Gains — Computation Rules and Exemptions

Statutory Text

Regular income of any tax year of a registered non-profit organisation
means— ( a) income from any charitable or religious activity, for which such non-
profit organisation is registered, carried out by it in such tax year; ( b) income other than income covered in clause ( e), derived from any property, deposit or investment held wholly for charitable or religious purposes by such registered non-profit organisation in such tax year; ( c) income other than income covered in clause ( e), derived from any
property, deposit or investment held in part for charitable and religious purposes by such registered non-profit organisation as referred in section 332(2)( b)(ii) in such tax year; ( d) voluntary contributions received by such registered non-profit organi - sation in such tax year; and ( e) gains of any commercial activity permissible under sections 344, 345 and 346, carried out by such registered non-profit organisation in such tax year, computed in such manner, as may be prescribed. Taxable regular income.

None.

None.

None.

To be updated.