Easy Office
LCI Learning

Taxability of charitable trust

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
03 July 2015 A charitable trust is in receipt of FD Interest only of Rs 400000. It has donated 20% of same to needy individuals? will it get exemption us 11 even if it has not applied 85% of its income. Is there a way to save tax other then by means of accumulation?
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
03 July 2015 It will not get exemption u/s 11 if it has not applied 85% of income. Seek permission for application within next 5 years.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
03 July 2015 can trust get retrospective registration? what is time limit for registration?



Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
03 July 2015 Retrospective registration not possible. Exemption available from the date of registration.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links