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Income tax on Trust not registered under u/s 12A

This query is : Resolved 

Hi all, What is the basic exemption limit for Trust not registered under sec 12A ?

Donations and Contributions received from trustees only then under which head it was taxable, what expenses are allowed as deduction from these donations ?

Which ITR form is to be filed in the case above Trust not registered u/s 12A ?

Assume total Receipts not exceed 20 lakhs


1 2.50 lacs basic exemption limit applicable if none of the members of the trust have taxable income.
2 All such receipts will be considered as donation. No expenses can be deducted from the donation.
3 File ITR 5.

if any one of Trust member is having taxable income then in that case what is the limit and under which head those donations will be taxable ?

if expenses are not allowed for deduction then general office expenses (like salaries, rent, amount spent for the purpose of trust objectives) are how to claim in the income tax ?

if Suppose Trust has 20 lakhs donations and Trust members have taxable income. and if expenses are not allowed then trust have to pay tax on 20 lakhs at what rate ?

If any of the member is having taxable income, then the trust income will be taxed at maximum marginal rate.
No expenses allowed on donation. Expenses allowed only for earning income.
In the above case 30% tax and cess payable on 20 lacs donation.


Bajaj Finserv

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