Income tax on trust income
This query is : Resolved
16 June 2015
Can anyone explain me a Taxability of Trust having income of Rs.40,00,000/- ?
Ankur Singhal
(Expert)
17 June 2015
Is your trust registered under section 11& 12?
Reply
Reply
Ankur Singhal
(Expert)
18 June 2015
Then if ur are required to fulfill the conditions of section 11
i.e trust is required to apply its atleast 85% of the total receipts & for rest refer section 12 & 13.
i.e trust is required to apply its atleast 85% of the total receipts & for rest refer section 12 & 13.
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