Charitable trust
This query is : Resolved
31 July 2020
dear Expert
a charitable trust was formed in Jan. 2019 and we applied for the registration u/s 12AA in Feb 2019 and after some amendment in trust deed, it was registered in somewhere Oct.2019.
Now, My question is , is it necessary to file Income tax Return for the AY 2019-20. There is no activity in that period except donation received towards corpus fund.
a charitable trust was formed in Jan. 2019 and we applied for the registration u/s 12AA in Feb 2019 and after some amendment in trust deed, it was registered in somewhere Oct.2019.
Now, My question is , is it necessary to file Income tax Return for the AY 2019-20. There is no activity in that period except donation received towards corpus fund.
01 August 2020
Yes, The Return of Income of Trust is required to filed if donation received is more than Rs. 2,50,000 in F.Y. 2019-20.
01 August 2020
Sir I'm asking for AY 19-20 .pl read it once again and reply
01 August 2020
The same rule applies to A.Y. 2018-19. If the income of Trust does not exceed Rs. 250000 in a F.Y. then it doesn't require to file ROI
01 August 2020
Return filing is not mandatory for AY 2019-20. Inference - Corollary to section 139(4A)
01 August 2020
Sir , still small doubt is that it was registered in Nov 2019 , donation is recd from trustee is Rs. 100500 and kept in Bank Current account any tax liability will be there for the AY 2019-20
02 August 2020
No Tax liability. Also, your Trust is not required to File return of Income.
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
- 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
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Long Term Service award taxability in hands of company
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Capital Gain on EUITY Shares
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- 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
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
