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27 June 2013 CAN WE CARRY FORWARD EXCESS APPLICATION OVER INCOME TO THE NEXT YEAR IN A TRUST

27 June 2013 require more clamity, whether it is after exempt?

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27 June 2013 BEFORE CLAIMING THAT 15 % SET APART FOR FUTURE.SECTION 11

27 June 2013 Yes.

Adjustment of deficit of current year against income of subsequent year would
amount to application of income of trust for charitable purpose in subsequent year within meaning of section 11(1)(a).
Citation :-
DIT Vs. Raghuvanshi Charitable Trust [2010] 8 Taxmann.com 142 (Del).


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