Accumulated income.

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..... ion 263(1) for furnishing the return of income for such tax year stating therein the purpose and period, not exceeding five years, for which the income is being accumulated or set apart. (2) The amount credited or paid by a registered non-profit organisation to any other registered non-profit organisation out of its income accumulated or set apart, shall not be treated as application of income. .....

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..... organisation to apply its income for such other charitable or religious purposes in India which are in conformity with its objects. (7) Where a registered non-profit organisation is dissolved, the Assessing Officer may, on an application made by such registered non-profit organisation in such form and manner, as prescribed, allow application of such income to be made to any other registered non- .....

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