What is the taxation of unutilised fund u/s 11(2) remaining after 5 years in case of charitable trust.
Manish Negi (Expert) (394 Points)
18 May 2013What is the taxation of unutilised fund u/s 11(2) remaining after 5 years in case of charitable trust.
CA rohit swami
(CHARTERED ACCOUNTANT)
(262 Points)
Replied 18 May 2013
HELLO MANISH ,
NOW TRUST HAS BECOME LIABLE TO PAY TAX ON SUCH INCOME IMMEDIATE PEREVIOUS YEAR AFTER YEAR EXPIRY SPECIFIED IN FORM NO.10. (IN THE REFERENCE OF 11(2) AND EXPLAINATION GIVEN THEIR TOO)
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