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of <h1>Amendment to Section 13 of Income-tax Act to Exclude Certain Assets from Trust Income Effective October 2024</h1> Clause 9 of the Finance (No. 2) Bill, 2024, proposes an amendment to section 13 of the Income-tax Act, specifically in clause (d) of sub-section (1). This amendment introduces a new clause (iv) to the proviso, effective from October 1, 2024. It aims to exclude certain assets and accretions to shares, as well as voluntary contributions, from the income of trusts or institutions for charitable or religious purposes, provided these assets are referred to in specific sub-clauses of clause (b) of the third proviso to clause (23C) of section 10.
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