Corpus and loan repayment rules limited: deposits or repayments qualify only if returned within a prescribed period and conditions met. Reinvestment into corpus or repayment of loans previously applied for charitable purposes will not be allowed as a fresh application if the original ... Summary
Corpus and loan repayment rules limited: deposits or repayments qualify only if returned within a prescribed period and conditions met.
Reinvestment into corpus or repayment of loans previously applied for charitable purposes will not be allowed as a fresh application if the original application was claimed before 01.04.2021, to prevent double deduction. Requalification is permitted only if repayment or reinvestment occurs within a limited period after application and the original application complied with statutory conditions (including prohibitions on corpus transfers, TDS and payment-mode limits, prohibition on benefit to disallowed persons, and India-location rules). Amendments add provisos to clause (23C) of section 10 and to section 11; they take effect from 1 April 2023.
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TaxTMI 
TaxTMI 
