Capital expenditure of trust

This query is : Resolved

ASHWINI KHATRI (Querist)
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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

CA Chandrasekaran.S.R

CA Chandrasekaran.S.R (Expert)
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06 March 2013 1.Capital expenditure is allowed as expense
2.If registered under Sec 12A audit is a must.
3.Yes
4.Yes

ASHWINI KHATRI

ASHWINI KHATRI (Querist)
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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

ASHWINI KHATRI (Querist)
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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.?