Comparison of section 341 "Application of income." between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)
11 September, 2025
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Application of income: qualifying paid sums and an 85% recognition rule for donations, with corpus treated as nil. Clause 341 limits qualifying application of income to sums actually paid during the tax year that are allowable under sections 35(b)(i) and 36(4)-(7), ... Summary
Application of income: qualifying paid sums and an 85% recognition rule for donations, with corpus treated as nil.
Clause 341 limits qualifying application of income to sums actually paid during the tax year that are allowable under sections 35(b)(i) and 36(4)-(7), recognises 85% of donations to other registered non-profits as application while treating corpus donations to other registered non-profits as nil, and permits reinvestment of corpus and repayment of borrowings as application only subject to five-year, post-31 March 2021 and compliance conditions, excluding depreciation already claimed and set-off of earlier excess application.
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