https://www.taxtmi.com/acts?id=51887 Section 342 permits a registered non-profit organisation to accumulate part of its regular income for up to five years by furnishing a prescribed statement to the Assessing Officer specifying purpose and period; accumulated income must be invested in modes permitted under section 350 or applied for the stated purpose, transfers to other registered non-profits from accumulated funds are not treated as application, court-ordered delays exclude time from the five-year period, and the Assessing Officer may authorize change of purpose or permit transfer on dissolution. en-us Thu, 14 Aug 2025 17:52:50 +0530 Sat, 31 Jan 2026 13:20:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51887 Section 342 permits a registered non-profit organisation to accumulate part of its regular income for up to five years by furnishing a prescribed statement to the Assessing Officer specifying purpose and period; accumulated income must be invested in modes permitted under section 350 or applied for the stated purpose, transfers to other registered non-profits from accumulated funds are not treated as application, court-ordered delays exclude time from the five-year period, and the Assessing Officer may authorize change of purpose or permit transfer on dissolution. Act-Rules Income Tax Thu, 14 Aug 2025 17:52:50 +0530 https://www.taxtmi.com/acts?id=51887