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TAX EXEMPTION FOR NOTIFIED CHARITABLE SOCIETIES U/s 10(23C) (iv) and (v)
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