Corpus donation means any donation made with a specific direction by the donor that it shall form part of the corpus of the registered non-profit organisation where such donation is invested or deposited in any of the modes permitted under section 350 maintained specifically for such corpus.

(1) The following sums shall be allowed as application of income to a registered non-profit organisation:––(a) any sum applied by it for charitable or religious purpose in India for which it is registered where such sum is,––(i) paid during such tax year; and(ii) such payment is allowable under sections 36(4), (5), (6) and (7) and

Where the property of a registered non-profit organisation includes any temple, mosque, gurdwara, church or other place notified undersection 133(1)(b)(vii), any sum or sums received by such registered non-profit organisation as donation for the purpose of renovation or repair of such temple, mosque, gurdwara, church or other place, may, at its option, be deemed as

(1) A registered non-profit organisation may accumulate or set apart any part of its regular income during any tax year by furnishing a statement to the Assessing Officer in such form and manner, as prescribed, on or before the due datespecified in section 263(1) for furnishing the return of income for such tax year stating

(1) The regular income, as reduced by the application of income and accumulated income under section 342, to the extent of 15% of regular income, shall be considered as deemed accumulated income and shall be invested or deposited inany of the modes permitted under section 350.(2) The deemed accumulated income under this section shall not

Where the property held by a registered non-profit organisation includes a business undertaking, and where a claim is made that the income of any such undertaking is eligible for benefits under this Part, then the Assessing Officer shall have the power to determine the income of such business undertaking as per the provisions of this

No registered non-profit organisation, other than a registered non-profit organisation, carrying out advancement of any other object of general public utility, shall carry out any commercial activity unless—(a) such commercial activity is incidental to the attainment of the objectives of the registered non-profit organisation; and(b) separate books of account are maintained for such activities.

No registered non-profit organisation, carrying out advancement of any other object of general public utility, shall carry out any commercial activity unless,—(a) such commercial activity is undertaken in the course of actual carrying out of advancement of any object of the general public utility;(b) the aggregate receipts from such commercial activity or activities do not

Where the total income of a registered non-profit organisation, without giving effect to the provisions of this Part, exceeds the maximum amount which is not chargeable to income-tax in any tax year, such registered non-profit organisation shall be required to keep and maintain the books of account and other documents in such form and manner

Where the total income of a registered non-profit organisation, without giving effect to the provisions of this Part, exceeds the maximum amount which is not chargeable to income-tax in any tax year, the accounts of such registered non-profit organisation for that tax year shall be audited by an accountant and the person in receipt of