§ 344
Chapter XVII — Special Provisions Relating To Certain Persons
Business undertaking held as property
Income-tax Act, 2025
If a registered non‑profit organization owns a business as part of its property and seeks tax benefits for that business's income, the Assessing Officer may determine the business's income under the Income‑Tax Act.
- The AO has the authority to assess the income of the business undertaking.
- This applies when the organization claims eligibility for tax benefits under the relevant provisions.
📜 Official text of the section +
344. W here the property held by a registered non-profit organisation includes
a business undertaking, and where a claim is made that the income of any
such undertaking is eligible for benefits under this Part, then the Assessing Officer
shall have the power to determine the income of such business undertaking as per
the provisions of this Act.
Restriction on commercial activities by a registered non-profit organisation.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.