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of <h1>Section 13 Amended: Tax Exemptions Denied for Trusts Serving Private Religious Purposes; Conditions for Exemptions Clarified</h1> Section 13 of the Income-tax Act is replaced to specify that Section 11, which provides tax exemptions for certain trusts, does not apply in specific cases. These include trusts for private religious purposes not benefiting the public, and trusts or institutions established after the Act's commencement for particular religious communities or castes. It also outlines conditions where income or property benefits certain persons, such as the trust's author or substantial contributors, leading to disqualification from exemptions. However, if investments in concerns with substantial interest by these persons do not exceed five percent of the capital, exemptions remain unaffected. Definitions and explanations clarify terms like 'trust,' 'relative,' and 'substantial interest.'
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