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of <h1>Clarification on Tax Exemptions for Charitable Trusts u/ss 11(1)(a) and 13(1)(d) of the Income-tax Act, 1961.</h1> The circular clarifies the requirements under sections 11(1)(a) and 13(1)(d) of the Income-tax Act, 1961, regarding tax exemptions for income derived from property held under trust for charitable or religious purposes. Section 11(1)(a) allows exemption if at least 75% of the income is applied for such purposes in India, while the remaining 25% must be invested as specified in section 13(5). Section 13(1)(d) denies exemption if funds are invested in modes not specified from the assessment year 1983-84. However, section 13(6) exempts accumulated income under section 11(2) from these investment requirements.
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