Exemption
This query is : Resolved
LAXMAN DEWASI
(Querist)
09 October 2014
i have educational trust registered u/s 12A of Income tax. The yearly turnover is in the form of tution fee .And that is below ! Cror.
Pl. let me the sections to claim deduction.
Pl. let me the sections to claim deduction.
CA SUNIL K GARG
(Expert)
09 October 2014
if the trust is registered under sec 12 A , of income tax act and application of funds towards the object of trust are not less than 85 %, than the income of the trust is exempt under sec 11 (1)itself.
the limit of 1 cr is applicable u/s 10 (23), if trust is not registered u/s 12 A, and if the gross receipt are less than 1 cr from education activity , than the income is exempt under sec 10 (23), provided other condition of sec are fulfilled.
the limit of 1 cr is applicable u/s 10 (23), if trust is not registered u/s 12 A, and if the gross receipt are less than 1 cr from education activity , than the income is exempt under sec 10 (23), provided other condition of sec are fulfilled.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Tax on Amount transferred in HUF Account
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
