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Section 11(1) - Income from property held for Charitable or religious purpose

Income Tax - Charitable, Religious, Educational Trust or Institutions or Organizations and Political Parties - 03 - SEC - 11(1): INCOME FROM PROPERTY HELD FOR CHARITABLE OR RELIGIOUS PURPOSES The following incomes shall not be included in the total income of the religious/ charitable trust: 15% of income derived from property held under the trust wholly for charitable or religious purposes; (15% is to be computed on the gross receipts) 85% of income derived from property held under trust wholly .....

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ludes- Purchase of capital assets Revenue Expenses Donations to religious/ charitable trust registered under section 12AA or section 10(23C) Repayment of loans taken for purchase of capital assets. Note 3: If, in the previous year, the income applied to charitable or religious purposes in India falls short of 85% of the income derived during that year from property held under trust, by any amount - i.for the reason that the whole or any part of the income has not been received during that year, .....

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