Sec 11

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This discussion clarifies how Gowshalas registered under Section 12A and 80G can manage unutilised funds. If funds received in FY 2020-21 were not fully utilised, they can be carried forward to FY 2021-22 by filing Form 10 before the ITR due date. It's also advised to specify 'Corpus Donation for Building' on receipts for clarity.

VIPIN GUPTA

VIPIN GUPTA (Querist)
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10 March 2021 One of our client is running a Gowshala which is registered under Sec 12A and 80G in the current year F/y 2020-21 there receipts are Rs 1 crore but they have utilised only Rs 25.50 Lacs .
1. Can we utilised balance Rs 74.50 Lacs in F/y 2021-22 by filing Form 10 along with ITR. or we have to pay tax after 15% allowalibilty.
2. If we receive corpus donation for building. On Receipt issued do we have to Write "Corpus Donation" or Specific " Corpus Donation for Building" or it does not make any difference.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 March 2021 1 yes, file form 9 A before the due date of filing of return. File it before filling ITR. Keep the amount in bank deposit.
2 write corpus donation for building.

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VIPIN GUPTA

VIPIN GUPTA (Querist)
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11 March 2021 Sir As per my knowledge Form 9A is to be filled if we are covered under Clause 2 of the Explanation to Sec 11(1), In our case we have received all the donation which is kept in bank account , but we are not able to use it. I was of the opinion that we are covered Under Sec 11 Subsection 2 and we have to fill Form 10. Kindly Guide

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 March 2021 Yes, you are right file form 10.

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