Charitable purpose & Audit Report of Trust
This query is : Resolved
14 July 2009
Proviso to Section 2(15) says that carrying on any activity in the nature of trade, commerce or business shall not be a charitable purpose.
But section 11(4) says that "property held under trust" can even be a business undertaking provided that it must be incidental to the attainment of the objectives of trust as per sec.11(4A)
So, what is the implication of amenmendment in Section 2(15)?
Also, whether any change made in the auditors report Form 10B in connection with new proviso?
But section 11(4) says that "property held under trust" can even be a business undertaking provided that it must be incidental to the attainment of the objectives of trust as per sec.11(4A)
So, what is the implication of amenmendment in Section 2(15)?
Also, whether any change made in the auditors report Form 10B in connection with new proviso?
14 July 2009
Charitable purpose means withour motive of profit and doing trade, commerce or business with motive of profit is not charitabel purpose. But in case if any trade like selling of religious books at par is trade but there is no profit motive evenif there is profit in it.
There is no any change notice till date
There is no any change notice till date
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
