What are the exemptions available to a Trust under section 12 of the Income Tax Act, 1961?

Tax exemption available to Trust under Section 12 of the Income Tax Act, 1961 are as follows: The incomes that are excluded from the computation of taxable income of trust or society are as follows: - Income which is derived from the property that is held under the authority of trust with the purposes which are wholly charitable or religious in nature. Income that is kept aside to the extent that does not exceed 25% of the total income received in lieu of the property. In cases of charitable trusts, specifically those formed before the 1st of April, 1961, income which is acquired from the property which is held partially for religious or charitable purposes within India In furtherance of the above case, the income which is set apart to a certain extent and which does not exceed twenty-five percent of the total income. In cases of income that is obtained from a trust created before 1st April, 1952 for charitable purposes and spent outside India. Income made by way of voluntary contributions towards the corpus of the trust. Charitable trusts created for the benefit of any of the socially and economically backward castes such as Scheduled Castes, Scheduled Tribes or women or children. Trusts are allowed to set apart or accumulate some of the funds received from voluntary contributions for certain specific purposes. The resultant benefit obtained by the trust is that amount so deducted is not considered as forming part of income of the previous year and therefore not taxed.