Religious trust
This query is : Resolved
27 December 2013
If a religious trust carries on a commercial activity which will have a turnover of more than 25,00,000/-, will the profit from such business be exempt provided it is registered under 12AA
02 January 2014
Yes the profits will be exempt. The limit of Rs. 25 lakhs is applicable for charitable purpose of advancement of any other object of general public utility.
It is NOT applicable to religious nature.
It is NOT applicable to religious nature.
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