Deemed corpus donations for specified-place repairs require separate identification, purpose-limited use, permitted investment, and no onward donations.

Section 340 permits a registered non-profit organisation holding a qualifying religious or notified place to elect that renovation or repair donations be treated as deemed corpus. The deemed corpus must remain separately identifiable, be used only for the stated purpose, and be invested or deposited in permitted modes. It cannot be applied for making a donation to any person or organisation. Violation of these conditions causes the deemed corpus donation to constitute specified income.

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