https://www.taxtmi.com/article/detailed?id=6191 The Bill adds "yoga" to the definition of charitable purpose and restricts "other object of general public utility" by excluding commercial or fee-based activities unless they are incidental to the object and aggregate receipts from them do not exceed a prescribed threshold of total receipts. Section 11 is amended to require the option to accumulate income to be exercised in prescribed form and manner by the due date for filing the return, to specify purpose and period (not exceeding five years), and to invest accumulated funds in specified modes; periods when application was prevented by court injunction are excluded from the five-year limit. A new provision in section 13 denies the section 11(2) exclusion if the statement or return is not furnished by the due date. en-us Thu, 02 Apr 2015 05:55:51 +0530 Thu, 02 Apr 2015 05:55:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6191 The Bill adds "yoga" to the definition of charitable purpose and restricts "other object of general public utility" by excluding commercial or fee-based activities unless they are incidental to the object and aggregate receipts from them do not exceed a prescribed threshold of total receipts. Section 11 is amended to require the option to accumulate income to be exercised in prescribed form and manner by the due date for filing the return, to specify purpose and period (not exceeding five years), and to invest accumulated funds in specified modes; periods when application was prevented by court injunction are excluded from the five-year limit. A new provision in section 13 denies the section 11(2) exclusion if the statement or return is not furnished by the due date. Articles Income Tax Thu, 02 Apr 2015 05:55:51 +0530 https://www.taxtmi.com/article/detailed?id=6191