Exemption under section 10 not available except under section 10(1), 10(23C),10(23EC),10(46) and 10(46A) - Section 11(7) - Income Tax - Ready Reckoner - Income Tax

Exemption under section 10 not available except under section 10(1) , 10(23C) , 10(23EA) , 10(23EC),10(23ED), 10(46) and 10(46A) - Section 11(7) Where a trust or an institution has been granted registration for purposes of availing exemption u/s 12AA or u/s 12AB , and the registration is in force for a previous year, then such trust or institution cannot claim any exemption under any provisions of section 10 [ other than relating to exemption of agricultural income section 10(1) , income exempt under section 10(23C) 10(23EC), 10(46) and 10(46A) w.e.f. 01.04.2025 other than relating to exemption of agricultural income u/s 10(1), income exempt u/s 10(23C),/(23EA)/ (23EC),/(23ED)/(46)/46A) and (46B) substituted vide Finance (No. 2) Act, 2024 ]. Similarly, entities which have been approved for claiming benefit of exemption under section 10(23C) would not be entitled to claim any benefit of exemption under other provisions of section 10 (except the exemption in respect of agricultural income). w.e.f. 01 Jun 2020, the registration granted for availing exemption under section 11 would become inoperative from the date on which trust or institution is approved u/s 10(23C)(iv)/(v)/(vi)/(via) is notified clause (23EC) or clause (46) or clause (46A) of the section 10 [ Inserted by FA 2023 w.e.f 01.04.2025 u/s 10(23EA)/ (23EC),/(23ED)/(46) substituted vide Finance (No. 2) Act, 2024 ] , as the case may be; or the date on which this proviso has come into force, or the 1st day of April of the previous year relevant to the assessment year for which the exemption is claimed u/s 10(46B) w.e.f. 01.04.2025 Inserted vide Finance (No. 2) Act, 2024 ] whichever is later. [ First Proviso to section 11(7) ] The trust or institution, whose registration has become inoperative under the first proviso, may apply to get its registration operative under section 12AA,/ 12AB subject to the condition that on doing so, the approval u/s 10(23C) or notification under [w.e.f. 01.04.2025 inserted vide Finance (No. 2) Act, 2024 , clause (23EA) or ] clause (23EC) or [ w.e.f. 01.04.2025 inserted vide Finance (No. 2) Act, 2024 , clause (23ED) ] or clause (46) or clause (46A) of the section 10 [ Inserted by FA 2023 ] , as the case may be, to such trust or institution shall cease to have any effect from the date on which the said registration becomes operative and thereafter, it shall not be entitled to exemption under the respective clauses. [ Second Proviso to section 11(7) ] Note :- So, either trust/institution can claim exemption u/s 11/12 or u/s 10(23C)(iv)/(v)/(vi)/(via).