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of <h1>Section 13 narrows exemptions by taxing trust receipts that benefit founders, major contributors, trustees, relatives, or related entities</h1> Section 13 restricts the exemptions under sections 11 and 12 by treating certain trust or institution receipts as taxable where income from private religious trusts or trusts benefiting a particular religious community/caste, or where charitable/religious trusts/institutions (including those newly created) enure to or are used for the benefit of specified persons (the settlor/founder, significant contributors, trustees/managers, relatives, or concerns in which they have substantial interest). It deems benefit where loans, use of property, payments, services, sales/purchases or diversions are on inadequate terms or where prohibited investments are held, subject to specified thresholds, temporal exceptions and limited exceptions for educational/medical institutions and anonymous donations.
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