Income not to be included in regular income.
338. While computing the regular income of a registered non-profit organisation, the following income shall not be included:—
| (a) | | income applied outside India, where the Board, by general or special order, directs that such income shall not be so included in its total income in case of a registered non-profit organisation— |
| (i) | | created before the 1st April, 1952 for charitable or religious purposes; or |
| (ii) | | created on or after the 1st April, 1952 for charitable purposes where such application of income outside India tends to promote international welfare in which India is interested; |
| (b) | | the corpus donation received by the registered non-profit organisation under section 339. |
