Provided further that no such deduction shall be permitted in respect of waqf land given on lease, by whateve… — LIST OF AMENDING ACTS

[Provided further that no such deduction shall be permitted in respect of waqf land given on lease, by whatever name called, whether batai or share cropping or any other name.]

4 [Provided further that no such deduction shall be permitted in respect of waqf land given on lease, by whatever name called, whether batai or share cropping or any other name.] (iv) expenditure on sundry repairs to rented buildings, not exceeding five per cent . of the annual rent derived therefrom, or the actual expenditure, whichever is less; (v) sale proceeds of immovable properties or rights relating to, or arising out of immovable properties, if such proceeds are reinvested to earn income for the 3 [waqf]: Provided that the following items of receipts shall not be deemed to be income for the purposes of this section, namely:— (a) advances and deposits recovered and loans taken or recovered; (b) deposits made as security by employees, lessees or contractors and other deposits, if any; (c) withdrawals from banks or of investments; (d) amounts recovered towards costs awarded by courts; (e) sale proceeds of religious books and publications where such sales are undertaken as an un-remunerative enterprise with a view to propagating religion; (f) donations in cash or kind or offerings made by the donors as contribution to the corpus of the 3 [waqf]: Provided that interest on income, if any, accruing from such donations or offerings shall be taken into account in calculating the gross annual income; (g) voluntary contributions received in cash or kind for a specific service to be performed by the 3 [waqf] and expended on such service; (h) audit recoveries . Explanation II. I. — In determining , the net annual income for the purposes of this section, only the net profit derived by any 3 [waqf] from its remunerative undertakings, if any, shall be taken as income, and in respect of its non-remunerative undertakings, such as, schools, colleges, hospitals, poor homes, orphanages or any other similar institutions, the grants given by the Government or any local authority or

Section 4