24 May 2016
A Public Charitable Trust which is NOT REGISTERED under section 12AA of Income Tax Act, is assessed as AOP. So can it claim expenses and put to tax, the surplus as an AOP ?? (Income are in form of Government Grants for projects , and Voluntary Donations ). For example, if Receipts is Rs. 500000 and exp are Rs. 300000, so what is the tax to be paid and at what rate ??
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