I t exemption for public trust
This query is : Resolved
12 October 2011
Dear sir,
My trust situated and registered in Mumbai has inadvertently lost/mislaid Income Tax exemption certificate. We are very much sure that the exemption u/s 12-A(a) had been obtained. Since, we are unable to locate the Probate granted by the Commissioner of Income Tax, exemption cannot be claimed.
Please guide us what is the way out. We had obtained the exemption in the year 1973, since that time onward at no time I Tax authorities asked for this certificate to grant exemption, now they have made it compulsory to produce this certificate to claim exemption.
Thanks and best regards,
CA Husain
My trust situated and registered in Mumbai has inadvertently lost/mislaid Income Tax exemption certificate. We are very much sure that the exemption u/s 12-A(a) had been obtained. Since, we are unable to locate the Probate granted by the Commissioner of Income Tax, exemption cannot be claimed.
Please guide us what is the way out. We had obtained the exemption in the year 1973, since that time onward at no time I Tax authorities asked for this certificate to grant exemption, now they have made it compulsory to produce this certificate to claim exemption.
Thanks and best regards,
CA Husain
14 October 2011
Normally the validity will be for the exemption will be one to three years. Unless extension obtained.. the Tax will have to be paid
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