Search Results For: 11(3)

Property held for charitable purposes

QUERY: What is the difference between the explanation given under Sections 11(2) and 11(3)?
ANSWER: Click here to read the full answer of the expert

Explanation below Section 11(2) provides that any amount paid or credited out of income from property held under wholly charitable trust or partly charitable trust which is not applied but accumulated or set apart to any trust or institution or to any fund either during the period of accumulation or thereafter shall not be treated as application of income for charitable or religious purposes.

Posted in Income-tax