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of <h1>Tax on Accreted Income Ensures Charitable Trusts Maintain Status; Applies Under Sections 12AA, 12AB, and 10(23C).</h1> The Income-tax Act imposes a tax on the accreted income of specified persons to prevent misuse of tax exemptions granted to charitable trusts. This tax applies if a trust converts into a non-eligible form, merges with an entity lacking similar objectives and registration, or fails to transfer its assets to a registered trust within 12 months of dissolution. These measures ensure that trusts maintain their charitable status and objectives as per the provisions under Sections 12AA, 12AB, and sub-clauses of Section 10(23C).
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