https://www.taxtmi.com/manuals?id=1232 Denial of exemption under section 13(1) removes exemption under sections 11 and 12 where income or property of a trust is applied, directly or indirectly, for private religious purposes not enuring for the public, for the benefit of a particular religious community or specified interested persons, or where funds are invested otherwise than in modes permitted by section 11(5); penalties and non applicability of gift relief may follow, subject to specified grandfathering exceptions and recent legislative clarifications. en-us Mon, 28 Sep 2015 10:43:00 +0530 Sat, 31 Aug 2024 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1232 Denial of exemption under section 13(1) removes exemption under sections 11 and 12 where income or property of a trust is applied, directly or indirectly, for private religious purposes not enuring for the public, for the benefit of a particular religious community or specified interested persons, or where funds are invested otherwise than in modes permitted by section 11(5); penalties and non applicability of gift relief may follow, subject to specified grandfathering exceptions and recent legislative clarifications. Manuals Income Tax Mon, 28 Sep 2015 10:43:00 +0530 https://www.taxtmi.com/manuals?id=1232