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Merger of trusts/institutions rationalized. Accreted income may attract provisions. New section 12AC clarifies conditions for exemption.

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....The proposal introduces provisions to rationalize the merger of trusts or institutions approved/registered under charitable trust regimes. When such entities merge, accreted income may attract Chapter XII-EB provisions. To provide clarity, new section 12AC prescribes conditions under which the merger shall not attract these provisions. The amendments are effective from April 1, 2025.....

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