Sec. 10 (23C), Sec. 13(8) andSec.143 (1)(D) : Section 2(15) already provides that if a charitable or religious Trust carries on activity of trade, commerce or business, above a threshold level, the Trust will lose its exemption from Income-tax. Section 10(23C) and Section 13(8) are now proposed to be amended with retrospective effect from 01/0/2009 to clarify that if a trust carries on activity of trade etc. then it would lose it exemption even though the certificates (e.g. u/s 80G) are not formally withdrawn.
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