Amendment of section 11.

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....iso shall apply only if there was no violation of the conditions specified-- (a) in clause (c) of this sub-section; (b) in Explanations 2, 3 and 5 of this sub-section; (c) in the Explanation to this section; and (d) in clause (c) of sub-section (1) of section 13, at the time the application was made from the corpus: Provided also that the amount invested or deposited back shall not be treated as application for charitable or religious purposes under the first proviso unless such investment or deposit is made within a period of five years from the end of the previous year in which such application was made from the corpus: Provided also that nothing contained in the first proviso....

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....clause (v) or subclause (vi) or sub-clause (via) of clause (23C) of section 10, as the case may be, or other trust or institution registered under section 12AB, as the case may be, shall be treated as application for charitable or religious purposes only to the extent of eighty-five per cent. of such amount credited or paid."; (B) in sub-section (2), in clause (c), for the words "on or before", the words "at least two months prior to" shall be substituted; (C) in sub-section (7), with effect from the 1st day of April, 2024,-- (a) for the words, brackets and figures "and clause (46)", the words, brackets, figures and letter ", clause (46) and clause (46A)" shall be substituted; (b) in the first proviso, fo....

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....ication for charitable or religious purposes under the first proviso unless such investment or deposit is made within a period of five years from the end of the previous year in which such application was made from corpus. It is also proposed to insert a fourth proviso to clause (i) of the said Explanation 4 so as to provide that nothing contained in the first proviso shall apply where application from the corpus is made on or before 31st March, 2021. It is also proposed to insert a second proviso to clause (ii) of the said Explanation 4 so as to provide that the provisions of the first proviso shall apply only if there was no violation of the conditions specified in (a) clause (c) and those specified in Explanations 2, 3 and....

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.... other trust or institution registered under section 12AB shall be treated as application for charitable or religious purposes only to the extent of eighty-five per cent. of such amount credited or paid. This amendment will take effect from 1st April, 2024 and will, accordingly, apply in relation to the assessment year 2024-2025 and subsequent assessment years. It is also proposed to amend clause (c) of sub-section (2) of the said section so as to provide that the statement of accumulation shall be furnished at least two months prior to the due date specified under sub-section (1) of section 139 for furnishing the return of income for the previous year. This amendment will take effect from 1st April, 2023 and will, accordingly, app....