Status of trust in income tax
This query is : Resolved
22 January 2013
A trust has been created by company under corporate social responsibility for making banefit to general public.
Whether trust is individual or AOP?
the trustees of trust are among the employees of company and 2% of the profit of co. is transfered to trust, further trust gave the contract to contractor for making panchayat bhawan and community centre for general public.
Is trust is liable to deduct TDS from contractor and service tax under reverse charge
Whether trust is individual or AOP?
the trustees of trust are among the employees of company and 2% of the profit of co. is transfered to trust, further trust gave the contract to contractor for making panchayat bhawan and community centre for general public.
Is trust is liable to deduct TDS from contractor and service tax under reverse charge
22 January 2013
A 'Trust' is a Artificial juridical person under the income tax Act as per the definition of Person under Section 2 of the Income Tax Act 1961,
Yes, Trust is liable to deduct TDS on contractor payments and pay service tax under reverse charge, if availing the specific services like 'Goods transport agent'.
Yes, Trust is liable to deduct TDS on contractor payments and pay service tax under reverse charge, if availing the specific services like 'Goods transport agent'.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Annual return of gst limit
- Reporting of STCG on Property in ITR
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
