Deemed income of a non-profit organisation: amounts unused or no longer invested are treated as income in the relevant year. Amounts referred to in clause (f) of section 94 shall be deemed to be the income of the non-profit organisation if not utilised for the purpose for which ... Summary
Deemed income of a non-profit organisation: amounts unused or no longer invested are treated as income in the relevant year.
Amounts referred to in clause (f) of section 94 shall be deemed to be the income of the non-profit organisation if not utilised for the purpose for which accumulated within the specified period, or if they cease to remain invested or deposited in modes specified in section 95; such amount is deemed income in the financial year immediately following expiry of the specified period for non-utilisation, or in the year in which it ceases to be so invested or deposited.
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