Requirements of section 13(1)(d) of the Income-tax Act, 1961, read with section 11(1)(a)--Clarification regarding

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....(1)(d) of the Income-tax Act, 1961, read with section 11(1)(a)--Clarification regarding. Section 11(1)(a) of the Income-tax Act, 1961, provides for grant of exemption from income-tax to income derived from property held under trust for charitable or religious purposes to the extent the income is applied for such purposes in India. Where any such income is accumulated or set apart for application ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... one year so that the requirements will be applicable from assessment year 1983-84, for the previous year commencing on or after 1-4-1982. 3. The effect of the insertion of section 13(1)(d) on section 11(1)(a) has been examined. The exemption under section 11(1)(a) will be available only if at least 75% of the income is applied for charitable or religious purposes in India during the year and the....