Registration 12a
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 September 2016
Friends
My client is trusty of one of the trust which has around 45 lacs income annually. He had spent around 95% of income as per the objects of religious purpose mentioned in trust deed. Return of trust also filled , but the trust is not registered U/s 12A till now.
so please help me whether income of trust allowed as exempt income in spite of not registered under 12a , or revised return will be filed with 30% tax with penalty.
Whether registration u/s 12a is compulsory to get exemption of income of trust or not.
please give me related case law if you know
My client is trusty of one of the trust which has around 45 lacs income annually. He had spent around 95% of income as per the objects of religious purpose mentioned in trust deed. Return of trust also filled , but the trust is not registered U/s 12A till now.
so please help me whether income of trust allowed as exempt income in spite of not registered under 12a , or revised return will be filed with 30% tax with penalty.
Whether registration u/s 12a is compulsory to get exemption of income of trust or not.
please give me related case law if you know
22 September 2016
Registration u/s 12a is compulsory to get exemption. File revised return with applicable taxes.
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