TaxTMI Login
🎉 Festive Offer: Flat 15% off on all plans! →⚡ Don’t Miss Out: Limited-Time Offer →
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>Amendment to Section 11 of Income-tax Act allows 25% income accumulation for charitable trusts without tax.</h1> The amendment to Section 11 of the Income-tax Act, 1961, as per the Taxation Laws (Amendment) Act, 1975, revises the treatment of income derived from properties held under trust for charitable or religious purposes. It specifies that such income, if applied in India, can be accumulated or set apart up to 25% without being taxed. It introduces provisions for voluntary contributions and conditions under which income not applied within a year can still be deemed applied. Additionally, it allows for income to be redirected to other charitable purposes if initially intended purposes cannot be fulfilled, with approval from the Income-tax Officer.
TaxTMI 
