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of <h1>New Section 12AC: Changes to Charitable Trust Mergers and Tax Rules in Union Budget 2024-25, Effective April 2025.</h1> The Union Budget 2024-25 and Finance Bill propose changes to the merger of charitable trusts under the exemption regime. When a registered trust merges with another, it may trigger tax provisions on accreted income under Chapter XII-EB. To provide clarity, new conditions will be prescribed to prevent these provisions from applying in certain mergers. A new section, 12AC, will be introduced to address these conditions. These amendments are set to take effect on April 1, 2025.
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