Charitable religeous trust
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 May 2012
1. Whether IT is payable on the income donations received by religeous bodies like Temple, Gurudwara, etc.
2.What are IT slabs currently applicable?
3. Whether the interest income on deposits made by such trust attracts TDS or not ? What is the guidline ? If it exceeds by Rs 10,000/-, how to avoid TDS ?
2.What are IT slabs currently applicable?
3. Whether the interest income on deposits made by such trust attracts TDS or not ? What is the guidline ? If it exceeds by Rs 10,000/-, how to avoid TDS ?
06 May 2012
Yes income tax will be applicable on donation income of trust.
Normal Tax slab rate will be applicable and one additional benefit you can take of 15% deduct from profit.
you have take form 13C but not 15G/15H.
Normal Tax slab rate will be applicable and one additional benefit you can take of 15% deduct from profit.
you have take form 13C but not 15G/15H.
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