Head for income of charitable trust

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chandni (Querist)
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10 May 2013 Please tell that income of charitable trust is shown under which head in computation of total income

Profit and Gain from Business and Profession

or

Income From Other Sources

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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11 May 2013 Income is shown under the head Profits and Gains of Business or Profession.

Shivang Chokshi

Shivang Chokshi (Expert)
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11 May 2013 it is a charitable trust and if it is not into any business related to such objective of the trust, it will be under ifos.

any income which is part of business of such charitable trust like selling books and other ancilliaries, it will be b&p

other than that, it will be ifos