Merger of register non- profit organisation in certain cases- Section 354A (New) / 12AC (Old)

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....tion 354A provides a specific exemption from the levy of tax on accreted income under section 352 where one registered non-profit organisation merges with another registered non-profit organisation and the prescribed conditions are satisfied. Section 354A(a) - Same or Similar Objects The merger will not attract section 352 where the other registered non-profit organisation has the same or si....

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.... expressly protects a merger where the other registered NPO has same or similar objects and prescribed conditions are fulfilled. Same or similar objects The 1961 Act contains the corresponding requirement in its merger provisions. Expressly made a condition under section 354A(a). Prescribed merger conditions Merger treatment is subject to statutory conditions prescrib....