TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Act 2020 amends Income-tax Act Section 11: Updates to sections 12AA, 12AB, and clause (46) explained.</h1> Section 11 of the Income-tax Act was amended by the Finance Act, 2020. In sub-section (1), Explanation 2 now includes contributions to various educational and medical institutions, or trusts registered under section 12AA, as part of the corpus. Sub-section (7) changes effective from June 1, 2020, include replacing references to section 12AA with section 12AB and adding clause (46) to the applicable clauses. New provisos state that registration becomes inoperative upon approval under section 10 clauses or notification under clause (46), but it can be reactivated under section 12AB, nullifying previous exemptions.
TaxTMI 
TaxTMI 
