tax rate of income from charitable trust
This query is : Resolved
22 May 2011
good evening sir i have one doubt that is what is chargeable rate of income from charitable trust and other institutions?
23 May 2011
If any Trust is a Public Charitable Trust and is registered u/s 12 of Income Tax, it can claim exemption of section 11 upto the limit of actual expenditure incurred by it during the financial year. Further they can carried forward their maximum 15% of revenue to next year on some sound grounds without Paying Income Tax.
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
- Traces Portal
- U/s.234E late fee- balated filing the TDS returns
- Minor Aadhar card cancelled
- Capital Gain Incidents
- Cheque bounce intimation letter
- Applicability of corporate governance provisions as per the SEBI LODR
- Form 121 of income tax
- Unable to login
- Minor - PPF Rules Doubt
- Tax on selling redeveloped resi property
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
