India - Income Tax Act 2010 - Saarc

S. 10(23C) I.T. ACT, 1961 1.80(v) 49 any trust (including any other legal obligation) or institutionwholly for public religious purposes or wholly for public religiousand charitable purposes, 50 [which may be approved by the prescribedauthority 51 ], having regard to the manner in which theaffairs of the trust or institution are administered and supervisedfor ensuring that the income accruing thereto is properly appliedfor the objects thereof;52[(vi) any university or other educational institution 53 existing 53 solely 53for educational purposes and not for purposes of profit, otherthan those mentioned in sub-clause (iiiab) or sub-clause (iiiad)and which may be approved 54 by the prescribed authority 55 ; or(via) any hospital or other institution for the reception and treatmentof persons suffering from illness or mental defectiveness or forthe reception and treatment of persons during convalescence orof persons requiring medical attention or rehabilitation, existingsolely for philanthropic purposes and not for purposes of profit,other than those mentioned in sub-clause (iiiac) or sub-clause(iiiae) and which may be approved 56 by the prescribed authority57 :]Provided that the fund or trust or institution 58 [or any university orother educational institution 59 or any hospital or other medical institution]referred to in sub-clause (iv) or sub-clause (v) 58 [or sub-clause(vi) or sub-clause (via)] shall make an application in the prescribedform 60 and manner to the prescribed authority 61 for the purpose of49. For complete list of approved trusts/institutions, see Taxmann’s Direct Taxes Circularsand Taxmann’s Yearly Tax Digest & Referencer.50. Substituted for “which may be notified by the Central Government in the Official Gazette”by the Finance Act, 2007, w.e.f. 1-6-2007.51. Prescribed authority is Chief Commissioner or Director General. See rule 2C and FormNo. 56. See also Notification No. SO 851(E), dated 30-5-2007. For details, see Taxmann’sMaster Guide to Income-tax Act.52. Sub-clauses (vi) and (via) inserted by the Finance (No. 2) Act, 1998, w.e.f. 1-4-1999.53. For the meaning of the terms/expressions “other educational institution”, “existing” and“solely”, see Taxmann’s Direct Taxes Manual, Vol. 3.54. For notified university/educational institutions, see Taxmann’s Direct Taxes Circularsand Taxmann’s Yearly Tax Digest & Referencer.55. Prescribed authority is Chief Commissioner or Director General. See rule 2CA and FormNo. 56D. See also Notification No. SO 852(E), dated 30-5-2007. For details, see Taxmann’sMaster Guide to Income-tax Act.56. For notified hospital/institution, see Taxmann’s Direct Taxes Circulars.57. Prescribed authority is Chief Commissioner or Director General. See rule 2CA and FormNo. 56D. See also Notification No. SO 852(E), dated 30-5-2007. For details, see Taxmann’sMaster Guide to Income-tax Act.58. Inserted by the Finance (No. 2) Act, 1998, w.e.f. 1-4-1999.59. For the meaning of the expression “other educational institution”, see Taxmann’s DirectTaxes Manual, Vol. 3.60. See rule 2C/Form No. 56 and rule 2CA/Form No. 56D.61. The prescribed authority for purposes of section 10(23C)(iv)/(v), under rule 2C, as well asfor purposes of section 10(23C)(vi)/(via), under rule 2CA, is Chief Commissioner orDirector General.