Section 12AC - Merger of charitable trusts or institutions in certain cases - Income-tax Act, 1961

1 [ Merger of charitable trusts or institutions in certain cases. 12AC. Where any trust or institution registered under section 12AB or approved under sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10, as the case may be, merges with another trust or institution, the provisions of Chapter XII-EB shall not apply if (a) the other trust or institution has same or similar objects; (b) the other trust or institution is registered under section 12AA or section 12AB or approved under sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10, as the case may be; and (c) the said merger fulfils such conditions as may be prescribed. ] ************* NOTES:- 1. Inserted vide Section 8 of the Finance (No. 2) Act, 2024 dated 16-08-2024 w.e.f. 01-04-2025