Provisions of this chapter not to apply in certain cases
95. The provisions of this Chapter shall not apply to any person who-
(a) holds any business under trust, regardless of any specific direction that-
(i) the business shall form part of the corpus of such person; or
(ii) the income from the business shall be applied only for permitted welfare activity;
(b) carries on any business if-
(i) the business is not incidental to the permitted welfare activity carried on by it; and
(ii) the permitted welfare activity so carried on does not involve any activity referred to in sub-clause (vi) of clause (g) of section 96; or
(c) ceases to be a non-profit organisation at any time during the financial year.
