My Question Trust is Registered under 12A but net profit of trust is 25% Whether the trust use limit of 15% exemption and balance amount is applicable slab rate of income tax or not?
07 December 2016
If you are registered trust u/s 12A then just accumulate the amount to be spent in next five years and enjoy the benefit of exemption. Also when we talk about the trust it should be surplus or deficit instead of profit or loss.
CAclubindia
