Insertion of New Section 21A

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....for public charitable or religious purposes. - Notwithstanding anything contained in clause (i) of sub-section (1) of section 5, where any property is held under trust for any public purposes of a charitable or religious nature in India, and (i) any part of such property or any income of such trust [whether derived from such property or from voluntary contributions referred to in sub-clau....

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.... Part I of the Schedule in the case of an individual; or (b) at the rate of one-half per cent. whichever course is more beneficial to the revenue : Provided that in the case of a trust created before the 1st day of April, 1962, the provisions of clause (i) shall not apply to any use or application, whether directly or indirectly, of any part of such property or any incom....