Restriction in respect of any amount credited or paid out of income, being voluntary contributions with specific direction that they shall form part of the corpus, to any trust or institution - Such contribution not to be treated as application of income- Budget 2017-18 w.e.f. AY 2018-19
2 February, 2017
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Voluntary contributions to corpus not treated as application of income for registered trusts, altering donor tax treatment. The amendment provides that any amount credited or paid out of income as a voluntary contribution with a specific direction that it shall form part of the ... Summary
Voluntary contributions to corpus not treated as application of income for registered trusts, altering donor tax treatment.
The amendment provides that any amount credited or paid out of income as a voluntary contribution with a specific direction that it shall form part of the corpus of a trust or institution registered under the charitable-registration framework shall not be treated as an application of income for purposes of the entity's objects.
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