Prohibited category of persons - Section 13(3)

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..... of the exemption contemplated in section 11 for a charitable or religious trust or institution. The said person are ( a ) the author of the trust or the founder of the institution; ( b ) any person who has made a substantial contribution to the trust or institution, that is to say, any person whose total contribution up to the end of the relevant previous year exceeds ₹ 50,000 ; ( c ) where .....

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..... i ), sub-clause ( iii ), sub-clause ( iv ) or sub-clause ( v ); ( vii ) any lineal descendant of a brother or sister of either the individual or of the spouse of the individual. Meaning of Substantial Interest Section 13(3) refers to cases where a person has A person shall be deemed to have a substantial interest in a concern,- ( i ) in a case where the concern is a company - if its shares (not be .....

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