Sec 11
This query is : Resolved
15 October 2020
A society Registered U/s 12A and 80G. In the financial year 2019-20 they received the donation of Rs 895000/- but due to some problem in management they were able to utilized only 219500/- the balance is in Bank Account. Can We fill form 10 and claim that the amount will be utilized in year 2020-21 for its charitable purpose or there is no way out but to pay tax after deducting 15%
16 October 2020
Yes, file form 10 and claim that the amount will be utilized in year 2020-21 for its charitable purpose.
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