Income-tax Act, 2025

PERMITTED MODES OF INVESTMENT OR DEPOSITS - Schedule XVI

SCHEDULE XVI

[See section 350]

PERMITTED MODES OF INVESTMENT OR DEPOSITS

Forms or modes of investment or deposits by a registered non-profit organisation

1. The modes of investing or depositing the money referred to in section 350 shall be the following:

(1)

investment in savings certificates as defined in section 2(c) of the Government Savings Certificates Act, 1959 (46 of 1959), and any other securities or certificates issued by the Central Government under the Small Savings Schemes of that Government;

(2)

deposit in any account with the Post Office Savings Bank;

(3)

deposit in any account with a scheduled bank or a co-operative society engaged in carrying on the business of banking (including a co-operative land mortgage bank or a co-operative land development bank);

(4)

investment in units of the Unit Trust of India;

(5)

investment in any security for money created and issued by the Central Government or a State Government;

(6)

investment in debentures issued by, or on behalf of, any company or corporation both the principal whereof and the interest whereon are fully and unconditionally guaranteed by the Central Government or by a State Government;

(7)

investment or deposit in any public sector company subject to the condition that where an investment or deposit in any public sector company has been made and such public sector company ceases to be a public sector company,

(a)

such investment made in the shares of such company shall be deemed to be an investment made under this clause for three years from the date on which such public sector company ceases to be a public sector company;

(b)

such other investment or deposit shall be deemed to be an investment or deposit made under this clause for the period up to the date on which such investment or deposit becomes repa .... To read the full section download the app from Google Play store