Income not to be included in regular income - Section 338 (New) / Section 11 (Old)

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....338 specifies certain receipts or income which are excluded at the stage of computing "regular income" of a registered non-profit organisation. It contains two principal exclusions: income applied outside India in specified circumstances and corpus donations. Section 338(a) - Income Applied Outside India Income applied outside India is not included in regular income where the Board, by gener....

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....erested. Thus, application outside India is not automatically excluded from regular income. It requires the statutory conditions and the relevant Board's general or special order. Relationship with Section 337, Sl. No. 3 Section 337, Table Sl. No. 3 provides for specified income where income is applied outside India in contravention of section 338(a). Therefore: Permitted applic....

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....come Tax Act, 1961 Section 338 of Income Tax Act, 2025 Income applied outside India Section 11(1)(c) provides the relevant exclusion for income applied outside India, subject to the conditions specified therein. Section 338(a) specifically excludes qualifying income applied outside India while computing regular income. Institution created before 1 April 1952 Sec....