Specified income

The specified income of a registered non-profit organisation shall mean the income as specified in column B of the Table below and shall be taxable in the year provided in the column C thereof:–– Table Sl. No. Specified income Tax year A B C 1. Any anonymous donation received by Tax year in which a registered non-profit organisation (other such anonymous donation than a registered non-profit organisation is received. created or established wholly for religious purposes) excluding the anonymous donations up to ₹1,00,000 or 5% of the such donations received by it during the tax year, whichever is higher. 2. Any portion of income applied by it, Tax year in which directly or indirectly, for the benefit of any such application is made. related person, computed in the manner, as prescribed. 3. Any portion of income applied by it Tax year in which outside India in contravention to the such application of income provisions of section 338(a). is made. 4. Any investment made in Tax year in which contravention to the provisions of such investment is made. section 350 out of any income, accumulated income, deemed accumulated income, corpus, deemed corpus, or any other fund. 5. Any deemed corpus donation in Tax year in which respect of which any of the conditions such violation is made. specified in the section 340 is violated. 6. Any portion of accumulated income, Tax year in which if it is applied to purposes other than it is so applied. charitable or religious purposes for which it is accumulated or set apart. A B C 7. Any portion of accumulated income, Tax year in which if it ceases to be accumulated or set apart it ceases to be so for application to such purposes as accumulated or set apart. specified under (1). 8. Any portion of accumulated income, Last of the tax if it is not utilised for the purpose, for years for which income which it is accumulated or set apart within was so accumulated or the period for which it was accumulated or set apart. set apart as specified in (1). 9. Any portion of accumulated income, Tax year in which if it is credited or paid to any other it is so credited or paid. registered non-profit organisation. 10. Any income applied to purposes Tax year in which other than charitable or religious purposes it is so applied. for which it is registered. 11. Any income determined by the Tax year to which Assessing Officer under in such income relates. excess of income shown in the books of account of such business undertaking.