Registration of trust under income tax act
This query is : Resolved
14 November 2011
Dear All,
Trust have been registered under the Trust Act. After registration one year over,we have not yet done any operation, we have not even opened bank account. Our doubt is how we have to intimate to the Income the Department, what is the consequences if we have not registered with the Income Tax Department and also state the procedures for registering with Income Tax Department
Regards,
Devadoss
Trust have been registered under the Trust Act. After registration one year over,we have not yet done any operation, we have not even opened bank account. Our doubt is how we have to intimate to the Income the Department, what is the consequences if we have not registered with the Income Tax Department and also state the procedures for registering with Income Tax Department
Regards,
Devadoss
15 November 2011
Well you should immediately apply to the Commissioner of Income tax in prescribed Form for the registration of trust under Income-tax. For time being the trust may not have any income so no consquences, this does not mean trust will not earn income in future. To avoid future tax liability on trust it is better to apply in prescribed form to the commissioner of income tax and have the trust registered thereby avoiding any future tax liability.
Regards
Chandan Agarwal
Regards
Chandan Agarwal
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- Regarding TDS Applicability For Director Remuneration
- Annual return in Gst
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
