Amendment in the provision relating to merger of non-profit organisations (NPOs)

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Full Text of the Document

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....any other entity other than a registered non-profit organisation having the same or similar objects. However, the said provision does not capture the situation where a registered non- profit organisation has merged with any other registered non-profit organisation having same or similar objects as was provided under section 12AC of the Income-tax Act, 1961. In order to provide for the provisions ....