https://www.taxtmi.com/article/detailed?id=11360 Registered trusts and institutions must file the prescribed income tax return; failure to file within statutory time limits results in denial of exemption even if an updated return is later filed. Exempt entities must apply the predominant part of their income to qualifying objects and may accumulate amounts only by filing a notice specifying purpose and period, investing accumulated sums in prescribed modes, and complying with filing deadlines. Voluntary corpus contributions are excluded from income but do not count as application by the donor. Specified violations, including diversion of income or non genuine activity, may lead to cancellation of registration. en-us Thu, 27 Apr 2023 10:49:41 +0530 Thu, 27 Apr 2023 10:49:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11360 Registered trusts and institutions must file the prescribed income tax return; failure to file within statutory time limits results in denial of exemption even if an updated return is later filed. Exempt entities must apply the predominant part of their income to qualifying objects and may accumulate amounts only by filing a notice specifying purpose and period, investing accumulated sums in prescribed modes, and complying with filing deadlines. Voluntary corpus contributions are excluded from income but do not count as application by the donor. Specified violations, including diversion of income or non genuine activity, may lead to cancellation of registration. Articles Income Tax Thu, 27 Apr 2023 10:49:41 +0530 https://www.taxtmi.com/article/detailed?id=11360