Deemed corpus donation

340. 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. Application of income.