Section 139(4a) ---- charitable trust

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

11 August 2015 As per Section 139(4A), If the total income of charitable trust (Without claiming exemption under sec. 11,12 and 13A) exceeds the maximum amount not chargeable to tax, then submission of return by the trust is essential.

Query:
My query is in above section, total income means what?
Is it after deduction of Application of money for the purpose of Charity in India?
Or only the amount of total receipt?

Amol S Joglekar

Amol S Joglekar (Expert)
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11 August 2015 Total income means total income as per income tax act.
In a layan's language it is also called as NET TAXABLE INCOME.
In your query, it is after deduction of 'application of money'.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 August 2015 It is before deduction of application for the purpose of charity. You can take it as total receipt.

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Querist : Anonymous

Querist : Anonymous (Querist)

11 August 2015 YES Amol sir,
Because as per ITR 7, total income is equal to gross total income less Application of money.

Querist : Anonymous

Querist : Anonymous (Querist)

11 August 2015 YES Amol sir,
Because as per ITR 7, total income is equal to gross total income less Application of money.

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