Pvt religious trust

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 October 2013 1. What is the tax treatment of private religious trust created for the benefit of particular religious say Jain Samaj ?

2. Which no of ITR to file whether ITR 5 or ITR 7 to file?

3. Whether Form 10B of Audit report is require evern if not claiming any exemption u/s 11/12?

4. What is its status AOP or trust?

5. Any requirement under IT Act or under other law to get register a pvt trust?

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

08 October 2013 1. Exemption under section 11 and 12 are not available in case the activities of the trust don't endure benefit to the public ie if the benefit accrues only to some particular people leaving out others high and dry!

Further, even a charitable trust loses exemption under 11 and 12 if it endures benefit only to a particular religious community or caste.

2. Therefore, you may use ITR 5. Form 10B won't apply. For taxability check Section 161 and 164.

AOP or trust, depends on how you are registered with income tax authorities. Check PAN

3. No registration required.

2. In such a scenario

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now