(3)[ in case where according to the order of the State Government under sub-section (2) of Section 21, the trust is genuine and has been acted upon and the net income or any portion of the net income in respect of any estate or tenure held under the trust has been dedicated exclusively to charitable or religious purposes without any reservation of pecuniary benefit to any individual, the compensation payable in respect of such income or such portion thereof shall, instead of being assessed under clause (1) be assessed as a perpetual annuity equal to such net income or such portion thereof as the case may be.] [Substituted by Act 16 of 1959.][Provided that where the property dedicated to a trust consists only of mines and minerals, compensation under Section 32, instead of perpetual annuity, shall be payable to the trust, as if it were an intermediary.] [Inserted by Act 18 of 1983 (31.10.83)]Explanation. - The salary, remuneration or any allowance payable to a Mutawalli in the case of a Waqf or to a trustee in any other case including a Shebait of a Hindu religious trust not exceeding fifteen per centum of the net income dedicated exclusively to charitable or religious purposes shall not be deemed to be a reservation of pecuniary benefit within the meaning of this clause;
