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Section 13(1) - Section 11 not to apply in certain cases

Income Tax - Charitable, Religious, Educational Trust or Institutions or Organizations and Political Parties - 12 - SEC - 13(1): SECTION 11 NOT TO APPLY IN CERTAIN CASES Exemption under section 11 & 12 shall not be available in the following cases: Section 13(1)(a): Income for private religious purposes: Entire income from property held under a trust for private religious purposes which does not enure for the benefit of the public is not eligible for exemption under section 11 or 12. Section .....

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the previous year applied or used directly or indirectly for the benefit of any person referred to in section 13(3), then entire income of such trust is not eligible for exemption under section 11 or12. Section 13(1)(d): Funds not invested in section 11(5) securities/ deposits: Entire income of a trust/ institution is not eligible for exemption u/s 11 & 12, if its funds are invested/ deposited otherwise than as specified under section 11(5). It has been clarified that investment in i.Shares .....

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