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Temple & trusts

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(Querist)
01 February 2011 Dear all..

1) Should all temples be registered as Trust?
2) Should it be registered with CIT u/s 12A?
3) Should it be audited if total income exceeds Rs. 160000?

Thanks in Advance..

Praveen.N
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
01 February 2011 Temples receive significant amount as Anonymous donation and for Religious trust
Section 115BBC is not applicable. So it will be better in case these are registered (as Religious Trust) with CIT U/s 12A for getting exemption U/s 11 & 12.

For Registered Trust it is compulsory to get its account audited if total income exceeds 160000/-
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CA. Praveen Narayan

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CA. Praveen Narayan (Querist)
07 February 2011 Thank you Paras Sir..
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