Accumulated surplus exceeding 15%
This query is : Resolved
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.
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