Taxability of charitable trust

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 July 2015 A charitable trust is in receipt of FD Interest only of Rs 400000. It has donated 20% of same to needy individuals? will it get exemption us 11 even if it has not applied 85% of its income. Is there a way to save tax other then by means of accumulation?


03 July 2015 It will not get exemption u/s 11 if it has not applied 85% of income. Seek permission for application within next 5 years.

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Querist : Anonymous

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03 July 2015 can trust get retrospective registration? what is time limit for registration?

03 July 2015 Retrospective registration not possible. Exemption available from the date of registration.


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