Trust
This query is : Resolved
12 April 2013
IF TRUST IS not registered u/s 12A
then 15% Exemption will be available or not ?
and form 10B is required or not if not registered and Income is below taxable Limit ?
then 15% Exemption will be available or not ?
and form 10B is required or not if not registered and Income is below taxable Limit ?
12 April 2013
Answer to both is negative. Neither eligible for exemption nor Form 10B is applicable
28 June 2013
The exemption is for whom. It is only registered Trusts only so the entire income is taxable at regular rate of tax. Similarly all the forms 10A, 10B and other forms can be filed only if you are registered with the Income Tax Department.
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