Amendment of section 11.

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....ection 12AA or section 12AB" shall be substituted; (b) for the words, brackets, figures and letter "clause (1) and clause (23C)", the words, brackets, figures and letter "clause (1), clause (23C) and clause (46)" shall be substituted; (c) the following provisos shall be inserted, namely:-- "Provided that such registration shall become inoperative from the date on which t....

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.... Bill seeks to amend section 11 of the Income-tax Act relating to income from property held for charitable or religious purposes. Sub-section (7) of said section provides that where a trust or an institution has been granted registration under clause (b) of sub-section (1) of section 12AA or has obtained registration at any time under section 12A [as it stood before its amendment by the Finance....

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.... which this proviso comes into force, whichever is later. It is further proposed to insert another proviso to said sub-section so as to provide that the trust or institution, whose registration has become inoperative under the proposed first proviso, may apply to get its registration operative under proposed section 12AB subject to the condition that on doing so, the approval under clause (23C)....