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)

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)

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)

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)

11 March 2021 Yes, you are right file form 10.

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