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Section 11(2) - Exemption if income accumulated for specific purposes

Income Tax - Charitable, Religious, Educational Trust or Institutions or Organizations and Political Parties - 04 - SEC - 11(2): EXEMPTION IF INCOME ACCUMULATED FOR SPECIFIC PURPOSES Where 85% of the income as per section 11(1) is not applied to charitable or religious purposes in India during the previous year but is accumulated or set apart, either in whole or in part, for application to such purposes in India, such income so accumulated or set apart shall not be included in the total income o .....

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