Charitable trust
This query is : Resolved
12 March 2015
sir, if a registered charitable trust only applied their income 80% for the objects of the trust whether trust is liable for tax during the relevant assessment yer..? Thy where not accumulating their income for the said purpose.
12 March 2015
For the balance 20 % tax is payable at MMR. If 85% is applied no tax payable on balance 15%.
13 March 2015
Sir, What is MMR in case of trust..? All trust are taxable at individual slab rate..?
13 March 2015
Sir, Last 2 years i am filing my income tax returns. During this FY:2013-2014 my income is not exceeding Basic exemption limit.
13 March 2015
MMR is maximum marginal rate of 30%.
18 March 2015
thank u sir for your valuable information.
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