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Donations to temple trust from abroad

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 August 2011 If huge Donations are received by a Temple trust from abroad what will be the taxability of such income in the hands of trust and whether payer can claim deduction?
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CA Hardik Bunha

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CA Hardik Bunha (Expert)
31 August 2011 yes donation received by trust will be taxable. you have received permission from ministry of corporate affairs. and you have to file repport FC3.
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CA. Anuj Gupta

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CA. Anuj Gupta (Expert)
14 November 2011 For a trust an donation is income to the extent it is not utilised for the social/charitable/educational purposes as specified under 12AA certificate.

Most important condition for Indian Trust is to have PRIOR PERMISSION/ PERMANENT REGISTRATION under Foreign Contribution Regulation Act 2010(FCRA)before receiving any FOREIGN DONATION .

Regarding payer's deduction shall depend on registration u/s 80G.

Anuj
+91-9810106211
femaquery@gmail.com
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