Merger of charitable trusts or institutions in certain cases - Section 12AC - Income Tax - Ready Reckoner - Income Tax

Section 12AC - Merger of charitable trusts or institutions in certain cases [ w.e.f. 01.04.2025 inserted vide Finance (No. 2) Act, 20204 ] Where any trust or institution registered under section 12AB or approved under section 10(23C)(iv)/ (v)/ (vi)/(via) , as the case may be, merges with another trust or institution, the provisions of Chapter XII-EB (i.e. Special Provisions Relating to Tax On Accreted Income of Certain Trusts And Institutions) 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 section 10(23C)(iv)/ (v)/ (vi)/(via), as the case may be; and (c) the said merger fulfils such conditions as may be prescribed.