Trust

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 August 2014 Hi all

I have a doubt regarding Income Tax filing for a Trust. A trust formed in Feb 2013 and applied for 12AA registration on April 2014 and the application is in process. Now for filing IT for the financial year 2013-14 whether the trust is eligibe for exemption u/s.12 and 13 or Trust has to pay Tax for the donation received after its expenses.

Thanks

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 August 2014 unless, the registration is sought retrospectively and is granted accordingly, for FY 2013-14, you are not eligible for exemption under 12A.

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