Option under section 11 Explanation to deem shortfall income as applied for charitable purposes, requiring prescribed income details and reasons. Application to exercise the option under the Explanation to sub section (1) of section 11 requests that a specified amount be deemed applied for charitable or religious purposes. The form requires details of income derived from trust property, amount actually applied, the shortfall, and the amount for which the option is exercised, together with reasons for shortfall (income not received or other reasons) and signature of a trustee or principal officer.