Charitable trust -donation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2013 KIND ATTN. SIR

WHETHER THE CHARITABLE TRUST CAN RECEIVE IN CASH WITH REGARD TO CORPUS FUND FROM TRUSTEES AND OTHER DONORS.
AS PER THE LATEST AMENDMENT CASH RECEIVED AS DONATION MORE THAN RS.10000/- , THE DONOR IS NOT ENTITLED TO RECEIVED EXEMPTION U/S 80G .
BUT THE TRUST IS NOT AFFECTED IN RECEIVING IN CASH AS IN THE MODE OF CORPUS FUND OR AS DONATION. KINDLY CLARIFY

WITH REGARDS
CA.P.SHANGAR

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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15 July 2013 Yes agreed trust can recieve cash donation, there is no restriction on trust for the same.

Message likes : 1 times

PARAS CHHAJED

PARAS CHHAJED (Expert)
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10 March 2021 A trust registered u/s 12AA and 80G received various donations (Voluntary Contributions) in cash ranging from Rs.11 to Rs,7101 totalling to Rs.3,40,487 during FY 2017-18. Apart from this the trust also received donations through cheque amounting to Rs.12,15,740. Receipts for each donation was issued to the donor mentioning name and address of donors.
While making assessment for AY 2018-19 the said sum of Rs.3,40,487 has been charged to tax u/s 68 as unexplained cash credit, although complete list of all donations was submitted during course of assessment.
Consequent to addition u/s 68 section 115BBE was also invoked to charge income tax @ 60% plus surcharge and cess.
Kindly advise.

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