Section 13 of ITA, 1961 : Section 13: Section 11 Not To Apply In Certain Cases
ITA, 1961
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Explanation using Example
Imagine a trust, called 'Green Earth', was established in 2010 with the aim of promoting environmental awareness. Green Earth owns a property that generates rental income. As per the Income-tax Act, Green Earth would normally enjoy tax exemption on this income under sections 11 and 12, as it is a trust working for charitable purposes.
However, one of the clauses in Green Earth's trust deed specifies that a certain percentage of the incom...
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