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2025Section 337

337. Specified income.

In the 1961 Act5 matches · Unreviewed

From the Income Tax Department's correspondence.

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 incomeTax year
ABC
1.Any anonymous donation received by a registered non-profit organisation other than a registered non-profit organisation created or established,—
(i) wholly for religious purposes, or
(ii) wholly for charitable and religious purposes (excluding anonymous donation made with a specific direction that such donation is for any university or other educational institution or any hospital; or other medical institution run by such registered non-profit organisation),
excluding the anonymous donations up to Rs. 100000 or 5% of the total donations received by it during the tax year, whichever is higher.		Tax year in which such anonymous donation is received.
2.Any portion of income applied by it, directly or indirectly, for the benefit of any related person, computed in the manner, as may be prescribed.Tax year in which such application is made.
3.Any portion of income applied by it outside India in contravention to the provisions of section 338(a).Tax year in which such application of income is made.
4.Any investment or deposit made in contravention to the provisions of section 350 out of any income, accumulated income, deemed accumulated income, corpus, deemed corpus, or any other fund.Tax year in which such investment or deposit is made.
5.Any deemed corpus donation in respect of which any of the conditions specified in the section 340 is violated.Tax year in which such violation is made.
6.Any portion of accumulated income, if it is applied to purposes other than charitable or religious purposes for which it is accumulated or set apart.Tax year in which it is so applied.
7.Any portion of accumulated income, if it ceases to be accumulated or set apart for application to such purposes as specified under section 342(1).Tax year in which it ceases to be so accumulated or set apart.
8.Any portion of accumulated income, if it is not applied as per the provisions of section 341(1) to (4) for which it is accumulated or set apart within the period for which it was accumulated or set apart as specified in section 342(1).Last of the tax years for which income was so accumulated or set apart.
9.Any portion of accumulated income, if it is credited or paid to any other registered non-profit organisation.Tax year in which it is so credited or paid.
10.Any income applied to purposes other than charitable or religious purposes for which it is registered.Tax year in which it is so applied.
11.Any income determined by the Assessing Officer under section 344 in excess of income shown in the books of account of such business undertaking.Tax year to which such income relates.
12.Fair market value of any asset, where it is not held in forms or modes specified in paragraph 1(1) to (30) of Schedule XVI even after the expiry of one year from the end of the tax year in which such asset is acquired.Tax year immediately following the expiry of limitation period mentioned in Column B.
13.Any deemed application under section 341(5) not actually applied by the registered non-profit organization for its objects in India within the period specified in section 341(6).Tax year specified in section 341(6) by which such application is required to be made.

Income-tax Act, 2025: text as on 25 August 2026 · Official source ↗ ·