NISM 23 - Social Impact Assessors Certification Exam Notes

Page 93 Of 112

Go to:

  • Income Tax Act: The Income Tax Act governs NPO taxation and donor deductions.
  • Charitable Purposes: Exemptions apply to income used for charitable purposes like education.
  • Asset Transfer: NPOs transfer assets within 12 months of dissolution for exemption continuity.
  • Donation Limits: Section 80G deductions are subject to limits based on donor income.
  • Regulatory Notifications: Notifications like the one dated March 26, 2021, guide NPO exemptions.

NISM 23 - Social Impact Assessors

MODELEXAM MODELEXAM®