Can a Jain Charitable Trust claim an exemption of 15% u/s 11(1) on earmarked fund received???
Can a Jain Charitable Trust claim an exemption of 15% u/s 11(1) on earmarked fund received???
Dear Abhay,
There is no impediment for a Jain Trust to club to claim exemption U/s 11.
The only issue would be whether it is registered U/s 12 of the Act.
regards,
abhiram
Dear Abhay,
In case of earmarked funds received towards the corpus the entire amount would be exempt.
regards,
abhiram
Aggarwal Sarawagi and Co
New Delhi
CA
View Details
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
View Details
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
View Details
CAclubindia
