<s>[INST] What is the provision for Section 115BBI? [/INST] ​​​Exemption under Section 11 is available to a trust with respect to the income applied for charitable or religious purposes in India. If the income is applied for purposes other than religious or charitable purposes, it shall be taxable under Section 115BBI. Section 115BBI provides a special rate to tax the following specified income of a specified charitable institution:

a. Income accumulated or set apart in excess of 15% of the income where such accumulation is not allowed under any specific provisions of the Act;
b. Deemed income as referred to in Section 11(1B) [option is exercised but the income is not applied in the year of receipt or immediately following the year of receipt or accrual];
c. If accumulated income is applied for purposes other than religious or charitable purposes or ceases to be accumulated or set apart for application to religious or charitable purposes;
d. If the amount is applied for purposes other than the objects of the institution approved under Section 10(23C)(iv), (v), (vi) and (via) or ceases to be accumulated or set apart for application thereto;
e. If accumulated income ceases to remain invested in the statutory form of investment specified under Section 11(5);
f. If it is not utilised for the purpose for which it is so accumulated within the allowed period of 5 years;
g. If accumulated income is credited or paid to any other trust or institution registered under Section 12AA/12AB or approved under Section 10(23C)(iv), (v), (vi) and (via);
h. any income which is not exempt under Section 10(23C) on account of investment in impermissible mode as referred to in Section 11(5);
i. any income which is not exempt under Section 11/12 on account of investment in impermissible mode as referred to in Section 11(5);
j. any income which is not exempt under Section 10(23C) on account of its application for the benefit of any interested person;
k. any income which is not exempt under Section 11/12 on account of its application for the benefit of any interested person;
l. any income which is not excluded from total income due to its application towards charitable purposes outside India.
The aggregate of the specified income shall be charged to tax at the rate of 30% plus applicable surcharge and cess.​ </s>