Exemption u/s 11 - Restriction in respect of any amount credited or paid, out of income being contributions with a specific direction that they shall form part of the corpus of the trust or institution shall not be treated as application of such contribution to charitable or religious purposes. - Budget 2017-18 w.e.f. AY 2018-19

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....ill <br>Act-Rules<br>Dated:- 2-2-2017<br>Clause - 008 - Amendment of section 11. THE FINANCE BILL, 2017 Clause 8 of the Bill seeks to amend section 11 of the Income-tax Act relating to income from property held for charitable or religious purposes. Sub-section (1) of the said section provides that voluntary contributions made by a trust to any other trust or institution, except those made out ....