Property held under trust includes Business Undertaking - Section 11(4)

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..... property held under trust and shall be eligible for exemption under section 11(1) 11(2) . Charitable trust engaged in business activity Section 11(4A) even if its object involve the under the respective regime, would be available in respect of income, being profit and gains from business activity if Such business is incidental to the attainment of the objects of the trust institution; and separat .....

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..... ned by the assessing officer is in excess of that shown in the books of the undertaking, such excess shall be deemed to be applied to purposes other than charitable or religious purposes.​​​​​​​ Books of account and other documents to be kept and maintained [ Refer this chapter ] - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Com .....

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