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assessment of trusts

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16 December 2009 which trust's income is exempt from tax
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
16 December 2009 Trusts which are registered u/s 12A of the Income Tax Act and formed for wholly charitable or religious purposes in INDIA; then the whole income which is applied or set apart(upto 15% of income) for such purposes are exempt from Income Tax.

Also note that these type of trusts are required to be registered with the Charity Commissioner.

Ca Rakhecha, Surat
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