Application for exercise of option under clause (2) of the Explanation to sub-section (1) of section 11 of the Income - tax Act, 1961 - [See rule 17(1)]

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..... hellip;… on behalf of [name of the trust/institution/association]……………………. Permanent Account Number (PAN)……………………………….. do hereby wish to exercise the option referred to in clause (2) of the Explanation to sub-section (1) of section 11 of the Income-tax .....

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..... ellip;..; (iv) The amount of income in respect of which the option is being exercised: Rs……………… B. The reasons for the shortfall in application of income are as under:- (a)Whether the income was not received during the previous year? Yes/No. If Yes, the amount of income that was not received:……………; (b) any other .....

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