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of <h1>Section 12AC: New Rule Exempts Certain Charitable Trust Mergers from Chapter XII-EB Provisions Starting April 2025</h1> Section 12AC, effective April 1, 2025, will be added to the Income-tax Act following section 12AB. This provision addresses the merger of charitable trusts or institutions. It stipulates that Chapter XII-EB provisions will not apply if a trust or institution registered under section 12AB or approved under specified sub-clauses of section 10 merges with another trust or institution. The merger is exempt if the other entity has similar objectives, is registered or approved under the same sections, and meets prescribed conditions.
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