Donation received by trust in cash exceeds rs.20000/-
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 July 2013
Hi all,
I want a query that if a charitable trust received donation which is in cash and exceeds rs.20000/-.
it is taxable for trust or trust will accept this money or not.
pls guide me for the same.
I want a query that if a charitable trust received donation which is in cash and exceeds rs.20000/-.
it is taxable for trust or trust will accept this money or not.
pls guide me for the same.
CA PARAS BAFNA
(Expert)
01 July 2013
Trust can accept the money and it is treated as income of the trust unless the donation has been received with specific direction to treat the same towards Corpus Fund of the trust.
.
The donor will not get deduction U/s 80G as the sum exceeds Rs. 10000.
.
.
The donor will not get deduction U/s 80G as the sum exceeds Rs. 10000.
.
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