Section 5 - Amendment of section 12 - Taxation Laws (Amendment) Act, 2001

5. Amendment of section 12. In section 12 of the Income-tax Act, after sub-section (2) and the Explanation thereto, the following sub-section shall be inserted, namely:-- (3) Notwithstanding anything contained in section 11, any amount of donation received by the trust or institution in terms of clause (d) of sub-section (2) of section 80G which has been utilised for purposes other than providing relief to the victims of earthquake in Gujarat or which remains unutilised in terms of sub-section (5C) of section 80G and not transferred to the Prime Minister s National Relief Fund on or before the 31st day of March, 2002 shall be deemed to be the income of the previous year and shall accordingly be charged to tax. .