Amendment status not verified — confirm the current text below against the official source.
(1) Any agricultural income derived from ch~r!table or property held under a trust or other legal obliga- ~h~Jous tion wlJOJly or partly for religious or charitable ru · purposes shall, to the extent it is applied or finally set apart for the aforesaid purposes, not be liable to income-tax under this Act. (2) In this section, purposes of a charitable nature include relief of the poor, education, medical relief, and advancement of any other object of general public utility. Ex~lusion of