https://www.taxtmi.com/manuals?id=1231 Section 342 permits a registered NPO to accumulate regular income for up to five years if it timely furnishes a prescribed statement identifying the purpose and period. The accumulated income must be invested or deposited in permitted modes or applied for the disclosed purpose. Transfers of accumulated income to another registered NPO are not treated as application of income. Court-imposed restrictions are excluded from the accumulation period. Permission may be sought to change the stated purpose, and, on dissolution, to apply accumulated income to another registered NPO. en-us Mon, 28 Sep 2015 10:42:00 +0530 Mon, 28 Sep 2026 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1231 Section 342 permits a registered NPO to accumulate regular income for up to five years if it timely furnishes a prescribed statement identifying the purpose and period. The accumulated income must be invested or deposited in permitted modes or applied for the disclosed purpose. Transfers of accumulated income to another registered NPO are not treated as application of income. Court-imposed restrictions are excluded from the accumulation period. Permission may be sought to change the stated purpose, and, on dissolution, to apply accumulated income to another registered NPO. Manuals Income Tax Mon, 28 Sep 2015 10:42:00 +0530 https://www.taxtmi.com/manuals?id=1231