Impact of amendments to section 13 of the Income Tax Act and section 21A of the Wealth Tax in section 13A of the Income Tax and Wealth Tax exemptions from charitable purposes income tax and wealth tax. This exemption cannot be ruled out that if a portion of the income or property of a trust or institution made before 19 1962 is for the benefit of a person referred to in section 13 (3) of section 13 of the Income Tax Act. Applies, if so, the use or application is in compliance with the terms of the trust The mandatory term should have been present in the trust deed before April 1, 1962, after the imposition of such a term, the Indian income tax There is no waiver under the Act and the Indian Wealth Tax Act. Tax Act, 1961, Sections 11 and 13 [as amended from 1-4 1971] Indian Wealth Tax Act, 1957, Section 21A [CITV Ratan Trust (1980) 123 ITR 562 reverse]
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