THE INCOME-TAX ACT, 1961(Section 11 Income from property held for charitable or religious purposes)
#Incometaxact1961, #Section11, #Income, #property, #exemptions, #rules, #sections, #law Introduction Section 11 of the Income Tax Act,1961 provides exemptions for Income earned from property held under charitable trusts/societies for the activities carried out for charitable or religious purposes subject to certain terms and conditions. Who can claim the exemption? - Any trust or institution which is registered under section 12AA of the Income Tax Act, 1961 can claim the exem