Section 139(4a) ---- charitable trust
Querist : Anonymous
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?
In a layan's language it is also called as NET TAXABLE INCOME.
In your query, it is after deduction of 'application of money'.
Querist : Anonymous
Because as per ITR 7, total income is equal to gross total income less Application of money.
Querist : Anonymous
Because as per ITR 7, total income is equal to gross total income less Application of money.
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