Deferral of charitable trusts amendment: pre-amendment assessment regime retained until 31 March 1990 for affected institutions A temporary deferral retains the pre-amendment assessment regime for charitable and religious trusts, institutions and scientific research associations: amendments effected by the Direct Tax Laws (Amendment) Act, 1987 with effect from 1 April 1989 will not apply for assessment year 1989-90 and the pre-amendment provisions of income-tax, wealth-tax and gift-tax statutes will continue to operate until 31 March 1990, including the listed definitions, exemption, deduction and assessment provisions and certain newly inserted reliefs.
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Deferral of charitable trusts amendment: pre-amendment assessment regime retained until 31 March 1990 for affected institutions
A temporary deferral retains the pre-amendment assessment regime for charitable and religious trusts, institutions and scientific research associations: amendments effected by the Direct Tax Laws (Amendment) Act, 1987 with effect from 1 April 1989 will not apply for assessment year 1989-90 and the pre-amendment provisions of income-tax, wealth-tax and gift-tax statutes will continue to operate until 31 March 1990, including the listed definitions, exemption, deduction and assessment provisions and certain newly inserted reliefs.
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