(6)[ Nothing contained in this section shall apply to and in relation to any assessment for the assessment year commencing on the 1st day of April, 1993, or any subsequent assessment year.] [ Inserted by Act 18 of 1992, Section 94 (w.e.f. 1.4.1993).][21-A. Assessment in cases of diversion of property, or of income from property, held under trust for public charitable or religious purposes.- ][Notwithstanding anything contained in clause (1) of section 5, where any property is held] [ Substituted by Act 33 of 1996, Section 58, for " Where any property is held" (w.e.f. 1.4.1993).] under trust for any public purpose of a charitable or religious nature in India, and(i)[ any part of such property or any income of such trust whether derived from such property or from voluntary contributions referred to in sub-clause (ii-a) of clause (24) of section 2 of the Income-tax Act] [ Substituted by Act 21 of 1984, Section 34, for certain words (w.e.f. 1.4.1985).], being a trust created on or after the 1st day of April, 1962 enures, directly or indirectly, for the benefit of [any interested person] [ Substituted by Act 4 of 1988, Section 144, for certain words (w.e.f. 1.4.1989).], or(ii)any part of the income of the trust whether derived from such property or from voluntary contributions referred to in sub-clause (iia) of clause (24) of section 2 of the Income-tax Act, being a trust created on or after the 1st day of April, 1962 enures, directly or indirectly, for the benefit of [any interested person] [ Substituted by Act 4 of 1988, Section 144, for certain words (w.e.f. 1.4.1989).], or[* * *] [ Clause (ii) omitted by Act 4 of 1988, Section 144 (w.e.f. 1.4.1989).]wealth-tax shall be leviable upon, and recoverable from the trustee or manager (by whatever name called) in the like manner and to the same extent as if the property were held by an individual who is a citizen of India and resident in India for the purposes of this Act, [* * *] [ Certain words omitted by Act 18 of 1992, Section 95 (w.e.f. 1.4.1993).]:Provided that in the case of a trust created before the 1st day of April, 1962, the provisions of clause (i) shall not apply to any use or application, whether directly or indirectly, of any part of such property or any income of such trust for the benefit of [any interested person] [ Substituted by Act 4 of 1988, Section 144, for certain words (w.e.f. 1.4.1989).] such use or application is by way of compliance with a mandatory term of the trust:[* * *] [ Second Proviso omitted by Act 18 of 1992, Section 95 (w.e.f. 1.4.1993).][[Provided further that] [Inserted by Act 21 of 1984, Section 34 (w.e.f. 1.4.1985). ],-(a)[ in the case of any trust or institution of national importance notified under clause (d) of sub-section (1) of section 80-F of the Income-tax Act,] [ Substituted by Act 4 of 1988, Section 144, for certain words (w.e.f. 1.4.1989).]-(i)[ the provisions of clause (i) and clause (ii) shall not apply, and [Inserted by Act 21 of 1984, Section 34 (w.e.f. 1.4.1985). ](ii)the other provisions of this section shall apply with the modification that for the words "at the maximum marginal rate", the words and figures "at the rates specified in ] [sub-section (2) of section 3] [ Substituted by Act 18 of 1992, Section 95, for " Part I of Schedule I in the case of an individual" (w.e.f. 1.4.1993).][shall be substituted; [Inserted by Act 21 of 1984, Section 34 (w.e.f. 1.4.1985). ](b)in the case of any institution, fund or trust referred to in clause (22) or clause (22-A) or clause (23-B) or clause (23-C) of section 10 of the Income-tax Act, the provisions of ][clauses (i) to (ii) shall not apply.] [ Substituted by Act 4 of 1988, Section 144 (w.e.f. 1.4.1989).][ Explanation.-For the purposes of this section,-] [Inserted by Act 21 of 1984, Section 34 (w.e.f. 1.4.1985). ](a)[ the expression "interested person" shall have the meaning assigned to it in clause (a) of Explanation I below sub-section (4) of section 80-F of the Income-tax Act; [Substituted by Act 4 of 1988, Section 144 (w.e.f. 1.4.1989). ](ab)any part of the property or income of a trust shall be deemed to have been used or applied for the benefit of any interested person in every case in which it can be so deemed to have been used or applied within the meaning of clause (c) of sub-section (3) of section 80-F of the Income-tax Act at any time during the period of twelve months ending with the relevant valuation date;][* * *] [ Clause (aa) omitted by Act 18 of 1992, Section 95 (w.e.f. 1.4.1993).](b)[ "trust" includes any other legal obligation.] [Inserted by Act 21 of 1984, Section 34 (w.e.f. 1.4.1985). ][21-AA. Assessment when assets are held by certain associations of persons.-(1) Where assets chargeable to tax under this Act are held by an association of persons, other than a company or co-operative society ][or society registered under the Societies Registration Act, 1860 (21 of 1860), or under any law corresponding to that Act in force in any part of India] [ Inserted by Act 13 of 1989, Section 29 (w.e.f. 1.4.1989).][, and the individual shares of the members of the said association in the income or assets or both of the said association on the date of its formation or at any time thereafter are indeterminate or unknown, the wealth-tax shall be levied upon and recovered from such association in the like manner and to the same extent as it would be leviable upon and recoverable from an individual who is a citizen of India and resident in India for the ] [Inserted by Act 16 of 1981, Section 27 (w.e.f. 1.4.1981). ][purposes of this Act] [Substituted by Act 4 of 1988, Section 145, for certain words (w.e.f. 1.4.1989). ][* * *] [ Certain words omitted by Act 18 of 1992, Section 96 (w.e.f. 1.4.1993).].
