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of <h1>Finance Bill 2025 proposes redefining 'substantial contribution' in section 13, affecting tax benefits for trusts and institutions.</h1> The Finance Bill 2025 proposes amendments to sub-section (3) of section 13 concerning trusts or institutions. Currently, section 13 excludes income from tax benefits if used for the benefit of specified persons, including substantial contributors and their relatives. The amendment suggests redefining 'substantial contribution' to contributions exceeding one lakh rupees in a year or ten lakh rupees in total. It also proposes excluding relatives and concerns with substantial interest from this category. These changes aim to address difficulties in reporting details and will be effective from April 1, 2025.
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