Accumulated surplus exceeding 15%
This query is : Resolved
ESMAIL SITABKHAN
(Querist)
17 July 2025
In case of Public Charitable Trust if the amount of accumulated Surplus not exceeding 15% is not mentioned in the ITR then assessing officer is suppose to allow on his own while computing total Assessed income???
12 August 2025
Trust should always disclose accumulated surplus ≤15% in the ITR.
AO may not allow it automatically if not disclosed.
Proper disclosure and compliance with conditions of accumulation are necessary for exemption.
AO may not allow it automatically if not disclosed.
Proper disclosure and compliance with conditions of accumulation are necessary for exemption.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Query on effect of registration of property
- Wrong CMPo8 file
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
