Form 10 b
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 May 2014
How trust can be registered with the main objective of promotion of education and other charitable purposes under section 12aa if it carrying on a business of insurance agents, is it possible?
During making its audit report u/s 12a how to show income spent for charitable Or religious purpose.
During making its audit report u/s 12a how to show income spent for charitable Or religious purpose.
05 May 2014
it is allowed under present income tax act ....
Message likes :
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05 May 2014
registration is one part. if later on the trust is doing only insurance agency business, it could lose its exemption
05 May 2014
exemption wont be lost in prev FY the income from such business does not exceed RS40 lakhs.
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