Accumulation of income for specified purpose now requires a prescribed statement, specified investments and timely filing. Taxpayers opting to accumulate or set apart income must furnish to the Assessing Officer a statement in the prescribed form and manner stating the purpose and a period not exceeding five years, invest the accumulated amounts in the forms or modes specified in sub section (5), and furnish the statement on or before the due date for the return under section 139(1); any period when income could not be applied due to a court order or injunction is excluded from the five year computation.