Donation received from foreign country by trust
This query is : Resolved
GULRAJ AILANI
(Querist)
09 June 2015
One of Trust has received donation from Foreign Country under FCRA guidelines. What will be implications under Income Tax Act. Whether whole amount will became taxable or it will be subject to the conditions that 85% amount will be utilised
CA R SEETHARAMAN
(Expert)
09 June 2015
It will be subject to the condition that 85% amount will be utilized.
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