Registered non-profit income taxation imposes special tax on specified income while regular and residual income follow applicable rates.

Section 334 establishes a two-component computation of tax payable by a registered non-profit organisation. Specified income is taxable at 30%, while taxable regular income and residual income are taxed at rates applicable under other provisions. Regular income includes income from charitable or religious activities, qualifying property and investments, voluntary contributions, and permissible commercial activities. Taxable regular income is nil where at least 85% of regular income has been applied or validly accumulated under prescribed conditions.

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