The proposal introduces provisions to rationalize the merger of ...

Merger of trusts/institutions rationalized. Accreted income may attract provisions. New section 12AC clarifies conditions for exemption.

Notes Bill

August 2, 2024

The proposal introduces provisions to rationalize the merger of trusts or institutions approved/registered under charitable trust regimes. When such entities merge, accreted income may attract Chapter XII-EB provisions. To provide clarity, new section 12AC prescribes conditions under which the merger shall not attract these provisions. The amendments are effective from April 1, 2025.

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The proposal introduces provisions to rationalize the merger of ...

Merger of trusts/institutions rationalized. Accreted income may attract provisions. New section 12AC clarifies conditions for exemption.

Notes Bill

August 2, 2024

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