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Exemption u/s 11 - Restriction in respect of any amount credited or paid, out of income being contributions with a specific direction that they shall form part of the corpus of the trust or institution shall not be treated as application of such contribution to charitable or religious purposes. - Budget 2017-18 w.e.f. AY 2018-19

Dated:- 2-2-2017 - Clause - 008 - Amendment of section 11. THE FINANCE BILL, 2017 Clause 8 of the Bill seeks to amend section 11 of the Income-tax Act relating to income from property held for charitable or religious purposes. Sub-section (1) of the .....

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Explanation 2 under the said sub-section so as to provide that in respect of any amount credited or paid, out of income referred to in clause (a) or clause (b) read with Explanation 1, being contributions with a specific direction that they shall for .....

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