Income Tax Act, 2025
Section 4: Ins. by Act 16 of 1972, s. 7 (w.e.f. 11973).
4. Ins. by Act 16 of 1972, s. 7 (w.e.f. 11973).
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(d) any relative of any such author, founder, person, 1[member, trustee or manager] as aforesaid;
(e) any concern in which any of the persons referred to in clauses (a), (b), 2[(c), (cc)] and (d) has a
substantial interest.
(4) Notwithstanding anything contained in clause (c) of sub-section (1) 3[but without prejudice to the
provisions contained in clause (d) of that sub-section, in a case where] the aggregate of the funds of the
trust or institution invested in a concern in which any person referred to in sub-section (3) has a
substantial interest, does not exceed five per cent. of the capital of that concern, the exemption under
4[section 11 or section 12] shall not be denied in relation to any income other than the income arising to
the trust or the institution from such investment, by reason only that the 5[funds of the trust or the
institution] have been invested in a concern in which such person has a substantial interest.
6[(5) Notwithstanding anything contained in clause (d) of sub-section (1), where any assets (being
debentures issued by, or on behalf of, any company or corporation) are acquired by the trust or institution
after the 28th day of February, 1983 but before the 25th day of July, 1991, the exemption under
section 11 or section 12 shall not be denied in relation to any income other than the income arising to the
trust or the institution from such assets, by reason only that the funds of the trust or the institution have
been invested in such assets if such funds do not continue to remain so invested in such assets after the
31st day of March, 1992.]
7[(6) Notwithstanding anything contained in sub-section (1) or sub-section (2), but without prejudice
to the provisions contained in sub-section (2) of section 12, in the case of a charitable or religious trust
running an educational institution or a medical institution or a hospital, the exemption under section 11 or
section 12 shall not be denied in relation to any income, other than the income referred to in
sub-section (2) of section 12, by reason only that such trust has provided educational or medical facilities
to persons referred to in clause (a) or clause (b) or clause (c) or clause (cc) or clause (d) of
sub-section (3).]
8[(7) Nothing contained in section 11 or section 12 shall operate so as to exclude from the total
income of the previous year of the person in receipt thereof, any anonymous donation referred to in
section 115BBC on which tax is payable in accordance with the provisions of that section.]
9[(8) Nothing contained in section 11 or section 12 shall operate so as to exclude any income from the
total income of the previous year of the person in receipt thereof if the provisions of the first proviso to
clause (15) of section 2 become applicable in the case of such person in the said previous year.]
10[(9) Nothing contained in sub-section (2) of section 11 shall operate so as to exclude any income
from the total income of the previous year of a person in receipt thereof, if—
(i) the statement referred to in clause (a) of the said sub-section in respect of such income is not
furnished on or before the due date specified under sub-section (1) of section 139 for furnishing the
return of income for the previous year; or
any relative of any such author, founder, person, 1[member, trustee or manager] as aforesaid;
any concern in which any of the persons referred to in clauses
has a
substantial interest.
Notwithstanding anything contained in clause
of sub-section
3[but without prejudice to the
provisions contained in clause
of that sub-section, in a case where] the aggregate of the funds of the
trust or institution invested in a concern in which any person referred to in sub-section
has a
substantial interest, does not exceed five per cent. of the capital of that concern, the exemption under
4[section 11 or section 12] shall not be denied in relation to any income other than the income arising to
the trust or the institution from such investment, by reason only that the 5[funds of the trust or the
institution] have been invested in a concern in which such person has a substantial interest.
6[
Notwithstanding anything contained in clause
of sub-section
Notwithstanding anything contained in sub-section
or sub-section
of section 12, in the case of a charitable or religious trust
running an educational institution or a medical institution or a hospital, the exemption under section 11 or
section 12 shall not be denied in relation to any income, other than the income referred to in
sub-section
of section 12, by reason only that such trust has provided educational or medical facilities
to persons referred to in clause
or clause
or clause
or clause
or clause
of
sub-section
Nothing contained in section 11 or section 12 shall operate so as to exclude from the total
income of the previous year of the person in receipt thereof, any anonymous donation referred to in
section 115BBC on which tax is payable in accordance with the provisions of that section.]
9[
Nothing contained in section 11 or section 12 shall operate so as to exclude any income from the
total income of the previous year of the person in receipt thereof if the provisions of the first proviso to
clause
of section 2 become applicable in the case of such person in the said previous year.]
10[
Nothing contained in sub-section
of section 11 shall operate so as to exclude any income
from the total income of the previous year of a person in receipt thereof, if—
the statement referred to in clause
of the said sub-section in respect of such income is not
furnished on or before the due date specified under sub-section
of section 139 for furnishing the
return of income for the previous year; or