Section 340 — Deemed corpus donation

Where the property of a registered non-profit organisation includes any
temple, mosque, gurudwara, church or other place notified under section
133(1)(b)(vi), any sum or sums received by such registered non-profit organisation
as donation for the purpose of renovation or repair of such temple, mosque, gurud-
wara, church or other place, may, at its option, be deemed as forming part of the
corpus under section 339, if it—
( a) maintains such corpus as separately identifiable;
( b) applies such corpus only for the purpose for which the donation was
made;
( c) invests or deposits such corpus in any of the modes permitted under
section 350; and
( d) does not apply such corpus for making donation to any person.