Requirements of section 13(1)(d) of the Income-tax Act, 1961, read with section 11(1)(a)--Clarification regarding

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..... ubject : Requirements of section 13(1)(d) of the Income-tax Act, 1961, read with section 11(1)(a)--Clarification regarding. Section 11(1)(a) of the Income-tax Act, 1961, provides for grant of exemption from income-tax to income derived from property held under trust for charitable or religious purposes to the extent the income is applied for such purposes in India. Where any such income is accu .....

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..... s a provision to extend this period to one year so that the requirements will be applicable from assessment year 1983-84, for the previous year commencing on or after 1-4-1982. 3. The effect of the insertion of section 13(1)(d) on section 11(1)(a) has been examined. The exemption under section 11(1)(a) will be available only if at least 75% of the income is applied for charitable or religious pu .....

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..... n 11(2), the provisions of section 13(6) make it clear that the requirements of section 13(1)(d) read with section 13(5) will not apply. This is because the mode of investing moneys allowed to be accumulated under section 11(2) is specified in that section itself. 5. The contents of this circular may be brought to the notice of all officers working in your charge and in particular to officers as .....

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