Is 3CB-3CD applicable for trusts having turnover above 1 crore and having 12A registration.

Dear Sir/Madam,

Religious trust is registered under section 12 with the income tax department. The details are as under:

Voluntary Donation Received Rs 5,00,000
Bank Interest FD and SB interest Rs 7,25,000
Total Rs 12,25,000

Application of Fund:
1. Rs 1,83,750 - 15% (Rs 12,25,000 lakhs X15%)
2. Rs 3,50,000 for trust object
Balance Rs 6,91,250

Now the trust is filling the return and the system is charging Tat u/s 115BBI at 30% tax on total Surplus income ie 6,91,250/-.

Generally, The trust does not file Form 9A or Form 10 for any reason and always offers the surplus income arising during the PY for tax. Thus as per my understanding, the definition of Specified Income should not be applicable in our case.

Till the last AY, the Trust used to pay tax as per the slab rates.

My question is whether such surplus income shall be taxed normal tax slab or at 30% u/s 115BBI.

Please suggest

Thanks

My client deducted tds on PO issued in FY 22-23 while the invoice was raised in FY 23-24 and refusing to revise the same. what are the possible options to claim or pressurise the client. I am MSME registered.

what is the procedure and Documents required by Non resident to start Migration business in India ?

MY ONE CLINT HAVE A BUSSINEES IS A (COMPUTER SALES-PURCHASE,REPAIRING AND E-MITRA SERVICES) ANY NOW HE IS GST REGISTERD. SO MY QUESTION IS HIS COMPUTER TURNOVER IS LESS THAN 10 LAKH AND E-MITRA S PAYMENT AND RECEIPT IS MORE THAN 30 LAKH NOW MY QUESTION (40 LAKH ME
1. CUSTMORE PAYMENT RECEIPT ONLINE GIVE CASH
2.FORM FILE AND RECEIPT FORM FEES CASH AND PAY TO ONLINE
3. AND ANY MORE SERVICES GIVEN BUT AGAINS RECEIPT NORMAL PROFIT/CHARGES
SO WHAT I SHOW IN INCOME TAX RETURN IS TURNOVER

What's the due date for filing of ITR for a company to which Transfer pricing is applicable

We use multiple raw materials in our manufacturing process.

A raw material recipe would be as follows:

1. RM1 costs Rs. 100 per Kg - We use 10 Kg
2. RM2 costs Rs. 45 per Kg - We use 0.200 Kg
3. RM3 costs Rs. 220 per Kg - We use 0.100 Kg
4. RM4 costs Rs. 75 per Kg - We use 0.125 Kg

Can you please let me know how to arrive at the blended cost for this recipe?


Thanks

Need suggestion/Clarification of , ITC credit eligible for support to police department,like CCTV Cam contribution to local police station...

I’m a buyer and I have to cancel the property purchase at the last minute. I already paid the TDS a day before the deal was cancelled. Now when I tried to apply for refund because property deal was cancelled. But when we entered all challan details, refund amount allowed shows Rs.0. Consumed amount shows the full amount we paid. how to proceed with refund in such cases? I know the amount or probably credited to seller pan. How to revert back and get the right amount to show up in refund request?

is mandatory to pay within 45 days to MSME entities. if payment made after 45 days , what will be the consequences. And whether it is mandatory to present in balance under Trade payable seperately.