Tax for charitable trust


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Querist : Anonymous

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Querist : Anonymous (Querist)
24 February 2015 A Charitable Trust Invested Large Amount of fund in Mutual Funds (Templeton India equity income fund & UTI Wealth Builder Fund.) I ve Claimed it as exempt income in ITR but it is Taxed in Intimation received from ITD.


Whether it is exempt or taxable for trust & if yes Under which section

24 February 2015 it is taxable income and itd is correct

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 February 2015 is it taxable even if it was dividend from mutual fund?

24 February 2015 it is exempted for charitable trust only if the dividend paying company has already paid dividend distribution tax

Rupesh Jain (Expert)
24 February 2015 it dividend tax already paid by the distribiting co. then no tax.


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