Taxation of trust

This query is : Resolved

Bijesh.K (Querist)
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25 November 2016 A trust not registered as per income tax Act has gross receipts of Rs. 325,000.00 and had utilised and amount equal to 3,00,000.00. So they have a surplus of Rs. 25000.00

Can they claim the expenses of 3 lakhs as "applied for charitable purpose" as per Sec 11(1) even if they are not registered?

Will there be any surcharge on the income (Rs. 25000.00/ 325,000.00) while calculating total tax liability?

Karthik.V.Kulkarni

Karthik.V.Kulkarni (Expert)
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25 November 2016 Hi Bijesh,

If the trust is not registered under income tax then it cannot claim benefit of Sec 11.

Warm Regards
Karthik V Kulkarni,ACA

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