Substitution of section 35

Substitution of section 35.- For section 35 of the principal Act, the following shall be substituted, namely:- “35. Applicability of the provisions of the Act.-

1. (1) Except section 41 and the provisions of Chapter VIII, nothing contained in this Act, is applicable to any religious institution or charitable endowment founded, organized, run or managed by religious denomination.
2. (2) Nothing contained in Chapter VII shall apply to a notified institution whose gross annual income does not exceed rupees one lakh’’."