Taxation of Unregistered trust under 12AA of Income Tax

Tax queries 924 views 3 replies

The assessee trust having interest income amounting to Rs. 450000/-

The same trust has not been registered under 12AA of the Income Tax Act yet.

What will be the tax liability of the same & what was the provisions for the same

Please clarify the same ASAP.

Thanking in advance.

Replies (3)
a Trust is mandatorily required
to file a return of income under Section 139(4A) if its income
without giving effect to the provisions of Sections 11 and 12
exceeds the maximum amount not chargeable to income-tax. In
other words, such a trust or institution must file a return of income
if it has taxable income for the year before claiming exemption
under Sections 11 and 12. The report of the auditor in Form 10B
has to be filed along with the return.
ok sir..

and what will be the tax rate applicable to the same..i.e. of individual or AOP.. ?
nd whether it get 2.5 lakhs basic exemption limit ?
individual tax rates are applicable & yes, basic exemption is applicable


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