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of <h1>New Section 12AC Exempts Merging Charitable Trusts from Chapter XII-EB Under Specific Conditions Effective April 2025</h1> Section 12AC of the Income Tax Act, 1961, addresses the merger of charitable trusts or institutions. It states that when a trust or institution registered under section 12AB or approved under certain sub-clauses of section 10 merges with another trust or institution, Chapter XII-EB provisions will not apply if the merging entity has similar objectives, is registered under section 12AA or 12AB, or approved under the specified sub-clauses of section 10, and meets prescribed conditions. This provision was inserted by the Finance (No. 2) Act, 2024, effective from April 1, 2025.
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