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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Section 11: Contributions to Another Trust's Corpus Not Considered Income Application for Charitable Purposes.</h1> In the Finance Act, 2017, section 11 of the Income-tax Act was amended to include a new Explanation 2, effective April 1, 2018. This provision clarifies that any amount credited or paid from income referred to in clauses (a) or (b), along with Explanation 1, to another trust or institution registered under section 12AA, as a contribution with a specific direction to form part of the corpus, will not be considered as an application of income for charitable or religious purposes.
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