Capital expenditure of trust
This query is : Resolved
ASHWINI KHATRI
(Querist)
04 March 2013
RESPECTED EXPERTS, MY CLIENT IS A TURST WHICH UNREGISTERED UNDER IT ACT. IT IS DOING EXPENDITURE ON TRUST BUILDING FOR KHATRI CAST, OUT OF IT'S RENTAL RECEIPTS. THAT AFTER NO ANY SURPLUS REMAINING. MY QUESTION IS AS BELOW;-
1- CAPITAL EXPENDITURE IS ALLOW OR NOT?
2- IS IT LIABLE FOR GET AUDIT ?
3- CAN IT GET REGISTRAION UNDER SECTION 12A OF IT ACT?
4- IS IT LIABLE FOR FILE IT RETURN?
PLEASE GUIDE WHO CAN IT WILL BE DONE
1- CAPITAL EXPENDITURE IS ALLOW OR NOT?
2- IS IT LIABLE FOR GET AUDIT ?
3- CAN IT GET REGISTRAION UNDER SECTION 12A OF IT ACT?
4- IS IT LIABLE FOR FILE IT RETURN?
PLEASE GUIDE WHO CAN IT WILL BE DONE
06 March 2013
1.Capital expenditure is allowed as expense
2.If registered under Sec 12A audit is a must.
3.Yes
4.Yes
2.If registered under Sec 12A audit is a must.
3.Yes
4.Yes
ASHWINI KHATRI
(Querist)
06 March 2013
said trust dont have any surplus after deducting capital expenditure on building and it is not registered under i t act. now can i file an app. for registration with out giving any tax on receipt of trust.?
ASHWINI KHATRI
(Querist)
16 July 2013
said trust dont have any surplus after, making capital expenditure on building and it is not registered under i t act. now can i file an application for registration with out giving any tax on receipt of trust.?
16 July 2013
yes you can file application for reg. under it act.
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