taxation of charitable trust
This query is : Resolved
19 January 2011
DEAR SIR
I HAVE TRUST WHOSE GROSS INCOME 9 LAKHS AND EXPENSE 7.50 FOR CHARITABLE PURCHASE
I WOULD LIKE TO KNOW THE TAX EFFECT.
THERE IS PROVISION OF 85% SHOULD BE UTITLISED AND IF YOU NOT UTILISED 85 % THEN ON EXCESS YOU WILL BE TAXED ?WHETHER BASIC EXEMPTION LIMIT FOR THE CHARITABLE TRUST AVAILABLE .THE TRUST IS REGISTERED UNDER SECTION 12 OF THE INCOME TAX ACT.
MY EMAIL ID IS doshidixesh@gmail.com
DIXESH DOSHI
I HAVE TRUST WHOSE GROSS INCOME 9 LAKHS AND EXPENSE 7.50 FOR CHARITABLE PURCHASE
I WOULD LIKE TO KNOW THE TAX EFFECT.
THERE IS PROVISION OF 85% SHOULD BE UTITLISED AND IF YOU NOT UTILISED 85 % THEN ON EXCESS YOU WILL BE TAXED ?WHETHER BASIC EXEMPTION LIMIT FOR THE CHARITABLE TRUST AVAILABLE .THE TRUST IS REGISTERED UNDER SECTION 12 OF THE INCOME TAX ACT.
MY EMAIL ID IS doshidixesh@gmail.com
DIXESH DOSHI
20 January 2011
Sir,
Basic exemption of Rs.160000 is available to trust.Kindly read sec 164(2) and check the eligibility criteria.
Basic exemption of Rs.160000 is available to trust.Kindly read sec 164(2) and check the eligibility criteria.
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
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
