Taxation of trust
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 July 2018
A Educational trust registered u/s 12A has gross fee receipts of RS 50 lakhs. Its net income as per Income and Expenditure is 10 lakhs.
My question is 85% utilisation has to be calcualted on 50 lakhs( gross receipts) or Rs 10 lakhs ( net income). Section says net income?
Please guide
My question is 85% utilisation has to be calcualted on 50 lakhs( gross receipts) or Rs 10 lakhs ( net income). Section says net income?
Please guide
14 July 2018
85% is to be calculated on gross receipts ie., on Rs. 50 lakhs.
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