Income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 October 2011
The total trust income is 283438.
The application is 276729.
Please tell me about the tax implication.
THEN WHAT WILL BE MY GROSS TOTAL INCOME.
WHAT WILL FILL IN IT RETURN FORM.
The application is 276729.
Please tell me about the tax implication.
THEN WHAT WILL BE MY GROSS TOTAL INCOME.
WHAT WILL FILL IN IT RETURN FORM.
08 October 2011
As per section 11 & 12, out of total income, trust should incur 85% for its objects and can accumalate 15%.
In u r case 85%* 283438= 240922/-.
As u have spent 276729/- for its objects. Tax liability is NIL
In u r case 85%* 283438= 240922/-.
As u have spent 276729/- for its objects. Tax liability is NIL
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 October 2011
THEN WHAT WILL BE MY GROSS TOTAL INCOME.
WHAT DETAILS I HAVE TO FILL IN THE IT RETURN FORM.
WHAT DETAILS I HAVE TO FILL IN THE IT RETURN FORM.
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