# The Finance Act, 2024 (No. 2), Section 8: Insertion of new section 12AC

- Act: The Finance Act, 2024 (No. 2)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2024-no-2/section/8/

## Text

Insertion of new section 12AC. 8. After section 12AB of the Income-tax Act, the following section shall be Inserted with effect from the 1st day of April, 2025, namely:— "12AC. Merger of charitable trusts or institutions in certain cases - Where any trust or institution registered under section 12AB or approved under sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10, as the case may be, merges with another trust or institution, the provisions of Chapter XII-EB shall not apply if— (a) | the other trust or institution has same or similar objects; (b) | the other trust or institution is registered under section 12AA or section 12AB or approved under sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10, as the case may be; and (c) | the said merger fulfils such conditions as may be prescribed.".

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