Deemed Corpus Donation - Section 340 ( New) / Section 11(1)(d) (Old)

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....ed by a registered non-profit organisation for the renovation or repair of specified religious places. Such donations may, at the option of the registered NPO, be deemed to form part of its corpus under section 339, subject to fulfilment of the  conditions prescribed in clauses (a) to (d). Section 340 - Deemed Corpus Donation The provision applies where the property of a registered non-....

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.... Section 340(c) - Investment or Deposit in Permitted Modes The deemed corpus must be invested or deposited in any of the modes permitted under section 350. Section 340(d) - Restriction on Donation The deemed corpus cannot be applied for making donation to any person. Accordingly, the amount treated as deemed corpus under section 340 cannot subsequently be used by the registered NPO for....

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....ovides a specific mechanism for treating certain donations as deemed corpus donations. Donation received for renovation or repair of a temple, mosque, gurudwara, church or other notified place forming part of the property of the registered NPO. Purpose of application Corpus contribution is subject to the statutory framework governing corpus and charitable/religious application. S....