Charitable trust.
This query is : Resolved
04 January 2016
A trust registered under sec 12a and having 80G Certificate . want to employ some ladies for making papad, pickle , spices and other household items. material will be supplied by trust. and after the product is ready it will be sold. My question is ..if any surplus comes on account of this activity after giving labour charges to womens. will that be taxable .. The surplus will be used for doing other charitable activities .. is this activity allowed by the trust..Pleas reply..
Thanks
Thanks
04 January 2016
Yes it is allowed provided separate books are maintained and receipt from this activity should not exceed 20% value of total receipts of the trust.
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05 January 2016
Thank You Sir.
Can you please refer a section under which this is applicable..
Can you please refer a section under which this is applicable..
05 January 2016
Section 2 (15) of Income tax Act.
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