#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

#withdrawal #exemptions #ammendment #conditions The section states that: (1) Where at any time before the expiry of a period of eight years from the date of the transfer of a capital asset referred to in clause (iv) or, as the case may be, clause (v) of section 47,— (i) such capital asset is converted by the transferee company into, or is treated by it as, stock-in-trade of its business; or (ii) the parent company or its nominees or, as the case may be, the holding company