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of <h1>Finance Bill 2017 amends Section 10(23C): Corpus contributions to trusts not considered income application from April 2018.</h1> The Finance Bill, 2017 proposes an amendment to section 10, specifically clause (23C), concerning the treatment of voluntary contributions to trusts or institutions registered under section 12AA. The amendment specifies that contributions directed to form part of the corpus will not be considered as an application of income for the purpose of the trust's or institution's objectives. This change aims to restrict the inclusion of such contributions in the computation of total income and will be effective from April 1, 2018, applying to the assessment year 2018-2019 and onwards.
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