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Charitable trust

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(Querist)
01 December 2012 My Query in computing the 15% of the income of a trust for accumulation whether the specific revenue grants are to be considered are not..

for EX: X A society has got revenue grant from government for meetings its contingent expenses and salaries to its employees, my question whether this grant amount received towards the expenses should it be considered in computing the amount of 15%..

In general if any capital grant we receive we will not considered it while computing the 15% calculation.

its urgent...
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
02 December 2012 The grant is meant to meet the routine expenditure meaning thereby its not a capital grant. Therefore it has to be taken into consideration for complying the application criteria.
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