Application of income.

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..... uch tax year; and (ii) such payment is allowable under sections 36(4), (5), (6) and (7) and 35(b)(i); (b) 85% of the sum paid by way of donation made to any other registered non-profit organisation; and (c) nil, with respect to any sum paid as a corpus donation to any other registered non-profit organisation. (2) The application of income under sub-section (1) shall include the following:-- .....

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..... i) the application of income from the loan or borrowing is made after the 31st March, 2021 and there was no violation of any provision of this Part, or any corresponding provision of the Income-tax Act, 1961 (43 of 1961) with respect to such application. (3) The following claims shall not be allowed as application of income under sub-sections (1) and (2):-- (a) the deduction or allowance by way .....

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