Donations received by private trusts
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 January 2013
Whether donations received by private trusts will be considered as income of the private trust. If yes,whether the same is taxable or exempt. Please give reference of relevant sections, case laws, etc.
CA PARAS BAFNA
(Expert)
06 January 2013
Donation received by any trust is treated as income. However, those trust who are registered under Section 12A, can get exemption on fulfillment of certain prescribed conditions U/s 11& 12.
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